By way of two separate orders, the Competition Commission of India (CCI) dismissed two allegations of abuse of dominance against DLF Limited and DLF New Gurgaon Home Developers Pvt Limited by holding that the enterprises were not in a dominant position in Gurgaon during the relevant period. This is the first time that the CCI has introduced the concept of 'relevant period' when determining the market position of an enterprise which was previously held to be dominant in the same relevant market.
Before its amendment in 2015, the Arbitration and Conciliation Act 1996 neither promoted institutional arbitration nor discouraged parties from considering it. The 2015 amendment was an attempt to reduce judiciary intervention in arbitration proceedings and promote a culture of institutional arbitration. One of the proposed changes was the amendment to Section 11 of the 1996 act, which provides for the appointment of arbitrators by the competent court.
Following the enforcement of the Arbitration and Conciliation (Amendment) Act 2015, the Arbitration and Conciliation (Amendment) Bill 2018 proposes to further amend the Arbitration and Conciliation Act 1996. The bill is another step by policymakers towards making India "a robust centre for international and domestic arbitration" and attempts to make it an investor-friendly jurisdiction and a preferred seat of arbitration for dispute resolution.
The Competition Commission of India (CCI) has imposed a penalty on the Ghaziabad Development Authority (GDA) for abusing its dominant position. The CCI held that the GDA had violated the Competition Act by raising the cost of flats meant for Ghaziabad's economically weaker sections from Rs200,000 in 2008 to Rs750,000 in 2015 without including an enabling provision in either the scheme brochure or the allotment letter.
Although blockchain is relatively new, India has seen a few segmental adoptions of the technology, with some public authorities – including the Insurance Regulatory and Development Authority of India – acknowledging its potential benefits. Further, recent press reports have indicated that some insurers have already started contemplating various ways in which to implement the technology.
In a writ petition filed by Cadila Health Care, the Delhi High Court held that the stage for challenging a prima facie order closes once the director general files its report before the Competition Commission of India (CCI). The court held that the CCI is under no obligation to record a prima facie case against every aspect involved in the matter, as it cannot foresee or predict whether a violation of the Competition Act will be found following the director general's investigation.
The Competition Commission of India (CCI) has unconditionally approved the proposed acquisition of Binani Cement Ltd by Rajputana Properties, a subsidiary of Dalmia Bharat Cement Ltd. This is the first transaction to be notified to the CCI involving the acquisition of a corporate debtor under the Insolvency and Bankruptcy Code 2016. The transaction was cleared by the CCI within 13 working days of it being filed.
The Central Board of Trustees of the Employees' Provident Fund Organisation recently approved a proposal to permit provident fund members to withdraw 75% of their accumulations after a period of one month of continuous unemployment instead of two months. The proposal would come into effect when the Employees' Provident Funds and Miscellaneous Provisions Act and the Employees' Provident Funds Scheme are amended.
The Supreme Court recently set aside the Competition Appellate Tribunal's decision in which, while dismissing a Competition Commission of India (CCI) order, it had held that a denial of market access as envisaged under Section 4(2)(c) of the Competition Act can be occasioned only to a competitor. While rejecting the narrow interpretation of Section 4(2)(c) of the act, the Supreme Court held that the CCI has a positive duty to eliminate all practices which adversely affect competition.
The Competition Commission of India (CCI) recently imposed a cumulative penalty of approximately Rs540 million on Jet Airways (India) Ltd, InterGlobe Aviation Limited and SpiceJet Limited for fixing fuel surcharge (FSC) rates for cargo transport. The CCI reasoned that the increase in the FSC on the same or nearly the same day indicated that the airlines had an understanding.
The Bombay High Court recently held that in accordance with the 2015 amendment of Section 11 of the Arbitration and Conciliation Act 1996, the courts' responsibility to refer a dispute to arbitration is narrow and limited to examining the existence of an arbitration agreement. Further, the high court held that an unstamped document does not bar a dispute from arbitration.
The Competition Commission of India (CCI) recently directed the director general to investigate Honda Motorcycle and Scooter Private Ltd for allegations regarding the imposition of vertical restraints and abuse of its dominant position in the market for the manufacture and sale of scooters in India. The director general was directed to conduct a detailed investigation after the CCI arrived at a prima facie finding that some of Honda's activities had violated the Competition Act.
In recent years, the Indian insurance sector has been abuzz with the news of new players looking to acquire stakes in insurers and insurance intermediaries. While the Insurance Act 1938 provides for the manner in which insurers may carry out amalgamations and transfers of insurance business, the regulations governing the amalgamation or transfer of an insurance intermediary's business remain scattered and, in some cases, non-existent.
In order to keep pace with rapid economic growth, the Specific Relief (Amendment) Bill 2017 proposes to introduce provisions to facilitate the enforcement of contracts. Among other things, the bill proposes to remove the courts' discretionary power to decree specific performance, permit substituted performance by a third party, set up special courts for dealing exclusively with suits relating to infrastructure claims and prevent the courts from granting injunctions in contracts relating to an infrastructure project.
Continuing its slew of exemptions, the Ministry of Corporate Affairs has exempted all public sector oil and gas companies (created under the Petroleum Act 1934) from pre-merger scrutiny by the Competition Commission of India under Sections 5 and 6 of the Competition Act 2002. The exemption – which will be valid for five years from the date of the official Gazette notification – also extends to all wholly or partly owned subsidiaries of such companies.
In 2017 the Competition Commission of India (CCI) found a prima facie case of abuse of a dominant position by the Haryana Urban Development Authority and sent the case to the director general for further investigation. Despite the Haryana Urban Development Authority Act and Regulations being the governing law in the case, the CCI opined that it would have jurisdiction to examine the matter in order to establish any anti-competitive conduct or practice under the Competition Act.
The Insurance Regulatory and Development Authority of India (IRDAI) recently released the IRDAI (Insurance Brokers) Regulations 2018 to revise the norms governing the establishment and operation of insurance brokers in India. The regulations have introduced a myriad of changes which largely appear to bring parity between the norms applicable to insurance brokers and web aggregators, particularly with respect to solicitation through online, telemarketing and distance marketing modes.
The Bombay High Court recently ruled that an application under Section 9 of the Arbitration and Conciliation Act 1996 which had been filed following an award passed by a foreign-seated arbitral tribunal had to be brought before a 'court' as defined in the explanation to Section 47 rather than Section 2(1)(e)(ii) of the act. The judgment has clarified, and to a large extent simplified, the procedure for a foreign award holder.
The Competition Commission of India (CCI) has re-imposed a penalty of Rs522.4 million on the Board of Control for Cricket in India (BCCI) for abuse of its dominant position in the market. The BCCI argued that it is a not-for-profit organisation established to promote cricket in India and does not engage in any kind of commercial activity with the aim of profiting. However, the CCI held that despite there being no profit motive, the BCCI should be considered an enterprise under the Competition Act.
The Supreme Court recently upheld the validity of a quantum-only arbitration clause and affirmed that once an insurer has denied liability, arbitration is no longer an option (unless the insurer and insured come to an independent agreement to arbitrate). In its decision, the Supreme Court stressed the importance of reviewing an insurer's declinature letter to properly assess whether liability had been denied or accepted.