Category: news

The Japan Fair Trade Commission (JFTC) has accepted commitments offered by Google LLC (Google) in relation to its alleged anti-competitive conduct in market for “provision of technologies for search engines & search advertising”. According to FTC, Since Yahoo Japan Corporation (Yahoo Japan) did not have technologies for search engines and search advertising it entered into a ‘GSA agreement’ with Google for providing technologies for Mobile Syndication Transactions (MTS). It was alleged that since 2015, Google has been engaged in amending the GSA & thereby restriction the provision of technologies necessary for MTS. Google’s commitments include – restraint from restricting provision of technologies, allowing independence & information separation to Yahoo Japan.

The US Federal Trade Commission (FTC) has sought to block $8.5 billion acquisition of Capri Holdings Limited (Capri) by Tapestry, Inc. (Tapestry) citing elimination of direct head-to-head competition between competitors in the “accessible luxury” segment. According to FTC, Tapestry’s Coach & Kate Spade brand and Capri’s Michael Kors brand vigorously compete against one another, especially in the “accessible luxury” handbag market.

The Supreme Court (SC) in an appeal while dealing with the scope of interference by an appellate Court for reversing the trial court’s acquittal order, has laid down the following guiding principles – “(a) That the judgment of acquittal suffers from patent perversity; (b) That the same is based on a misreading/omission to consider material evidence on record; (c) That no two reasonable views are possible and only the view consistent with the guilt of the accused is possible from the evidence available on record.” The SC, while noting that the Appellate court failed to follow the abovementioned principle & instead went unto deciding the appeal as a court of first instance, reversed the appellate court’s order.

In a joint operation, the Hong Kong Competition Commission (HKCC) & the Hong Kong‘s Independent Commission Against Corruption (ICAC), conduct search & seizures operations at various offices of project contractors, consultancies & property management companies in relation to the alleged big-rigging by these companies in the building maintenance projects’ tenders. The companies have been alleged to have been manipulating “the tendering exercises of building maintenance projects, exaggerated contracts sums, assisted associated contractors to obtain maintenance projects and consultancy contracts, and manipulated project supervision and project payment release.”

The German Competition Regulator (Bundeskartellamt) has approved the acquisition of Cardior Pharmaceuticals GmbH (Cardior) by Novo Nordisk A/S (Novo Nordisk). Cardior is a biotech company, with operations in the development of active pharmaceutical ingredients for the medicines used for cardiac insufficiency or heart failure. On the other hand, Novo Nordisk is an international pharmaceutical company specializing in the development of treatment for diabetes & obesity. According to Bundeskartellamt, the proposed acquisition does not create any significant antitrust concerns as Cardior products works in a different way & is catrered towards a different set of consumers as compared to Novo Nordisk.

The Supreme Court (SC), while dealing with an appeal filed by an ex-employee of the GB Pant Institute, Ghurdauri, challenging his termination from service, on the ground of it being issued without, undertaking any enquiry or opportunity to show cause, has held that, the termination of the services “without holding disciplinary enquiry was totally unjustified and de hors the requirements of law and in gross violation of principles of natural justice”. The SC while quashing the termination order passed by the concerned authority, directed reinstatement of the employee.

The National Company Law Appellate Tribunal (NCLAT), in an appeal filed by a Suspended Director of Sporta Technology (Corporate Debtor – CD) against the order initiating Corporate Insolvency Resolution Process (CIRP) of the CD passed by the National Company Law Tribunal, Mumbai (NCLT-M), has held that, since the application for initiating CIRP mentions the date of default as March, 2020, the same is hit by rigorous of Section 10A of the IBC, 2016. The NCLAT noting that since the entire claim falls within the time period as prescribed under section 10A of the IBC, 2016, has set aside the order passed by the NCLT-M.

The Japan Fair Trade Commission (JFTC) has initiated a probe against Google, which has been alleged to be abusing its dominant position, by limiting the operations of rivals like – LY Corporation (LYC) & Yahoo Japan (Yahoo), in the online advertising market. It has been alleged that Google unilaterally made a request to LYC & Yahoo to halt part of their online advertising business for a certain period of time, in consideration of receiving technical assistance from Google for “keyword-targeted” online advertising service. The JFTC suspects Google’s conduct to be in violation of Japan’s antimonopoly law.

ZEE Entertainment Enterprises Ltd. (ZEE) has announced its decision to withdraw the merger enforcement application, filed before the National Company Law Tribunal, Mumbai (NCLT-M) for implementation of proposed merger with Culver Max Entertainment Pvt. Ltd (Sony). ZEE-Sony merger was announced back in 2021, which was later called-off by Sony. Thereafter, ZEE approached the NLCT-M seeking enforcement of the merger, which was allowed by NCLT-M in 2023. However, ZEE has now decided not to pursue the merger, citing growth & other strategic opportunities for maximum shareholder value generation.

The German Competition Regulator (Bundeskartellamt) has pointed out significant antitrust concerns in the proposed acquisition by Hunter Douglas GmbH, Düsseldorf (Hunter) of erfal GmbH & Co. KG, Falkenstein/Vogtland (Erfal). Hunter is a global manufacturer & a dominant player in the “market of systems used to produce interior window coverings”, especially window shades. In Germany, Hunter sells its systems & fabrics to fitters like Erfal. According to Bundeskartellamt, a consolidation between a manufacturer & consumer in the downstream market would have allowed Hunter to gain incentive to disadvantage its German competitors competing with erfal in the downstream market. Noting these concerns, the deal is being called off by the parties.