In this two-part article, the first part of which appears here, the author, the chief
architect behind the review format of Merger Review in India, takes a look at the
performance of the Competition Commission of India (CCI) in handling the
regulations of combinations (merger review) in India and how does it compare
with international standards. The stark contrast between the anxious reactions
before the regulations of combinations came into force and the deafening silence,
even after 19 approvals have been given by the CCI, has also been briefly touched
upon. The next part, to follow, shall deal with the lessons arising from the
journey of merger control in India so far.
this article contains a view of merger control in India by way of analysing the clearances given by the competition agency of India and the time taken in different stages. It looks at all the competition review done by CC I and finds out the average clearance time. This is a two-part article. Part one deals with the performance and the outcome in terms of the quickness of clearance. Second part deals with the lessons learnt after the experience of merger review in India for the first time.
A 360 Degree Review of Penal Provisions’ Application under Competition Law ...KK SHARMA LAW OFFICES
Perhaps not many laws have been subject to so much public scrutiny as competition law either before its enactment or afterwards. Almost immediately after its enactment, just after a duly appointed Member had assumed office and before a duly appointed Chairman could enter office, the Competition Act, 2002(Act) was challenged on various counts. This resulted in a very strange situation. The Competition Commission of India (CCI) could not be called a Commission in terms of the Act which needed a minimum quorum of a Chairman and, at least, two Members for being a legally recognized Commission. So, the CCI remained a one Member body (not a full Commission) till as late as March 1, 2009 when, for the first time, a Chairman and two Members were in office and the CCI, in the eyes of law, was a full Commission. The enforcement powers to CCI came in stages. In first phase only advocacy functions were allowed. This was followed by antitrust enforcement powers being given to the Commission from May 20, 2009. Thereafter, regulations of combinations (popularly known as Merger Review) came into force with effect from June 1, 2011. There were always fears that the CCI may turn out to be as effective (or ineffective depending upon one’s perspective) as MRTPC. Now, that five years have passed since the time the CCI began to get its enforcement powers, it is high time to look back if the fears about the efficacy of the powers given to the CCI were justified or misplaced. The author, the only official in senior echelons of the CCI who not only saw the transition from a CCI doing only competition advocacy to a fully functional Commission but also played a very crucial role in this transition by way of being the very first Director General of the functional CCI, laying down the investigative framework of investigation, and later as the first head of Merger Control who gave the country its very efficient Merger Review Format, takes a look at this issue.
GOLDEN OPPORTUNITIES OF PRACTISING BEFORE TRIBUNAL - By CA. (Dr.) Rajkumar Ad...CA. (Dr.) Rajkumar Adukia
The author strongly believes that the professional should go beyond their traditional areas by expanding themselves to serve and not settle for less. The article provides you with such goldmines of opportunities in the litigation field wherein addition to advocates, non-advocate professionals such as the Chartered Accountants, Company Secretary, Cost Accountants also can have their fair share.
Omaxe reviews - a review of the competition issues in the real estate sector...omaxe-reviews
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This document provides study material for the Industrial, Labour and General Laws paper of the CS Executive Programme. It covers 19 lessons on various Indian labour laws like the Factories Act, Minimum Wages Act, Payment of Wages Act, etc. and 6 lessons on general laws related to the Indian Constitution, statutes, civil procedure code, criminal laws and Right to Information Act. The document discusses the objectives, scope, definitions, authorities and key provisions of each law to help students prepare for the examination. It also provides a syllabus, reading references and a specimen OMR sheet for multiple choice questions.
This document discusses labor laws and procedures for disciplinary action against employees in India. It begins by categorizing Indian labor laws into areas like industrial relations, wages, specific industries, and social security. It then focuses on laws related to industrial relations, specifically the Trade Unions Act of 1926. The document outlines the code of conduct and principles for disciplinary procedures, including preliminary inquiries, charge sheets, domestic inquiries, reports, show cause notices, and potential punishments. It emphasizes that natural justice and due process principles must be followed in any disciplinary actions.
In a sensitive order, a bench of the Madras High Court grants a convict two weeks’ leave for procreation and paves the way for similar liberal judgments in future
this article contains a view of merger control in India by way of analysing the clearances given by the competition agency of India and the time taken in different stages. It looks at all the competition review done by CC I and finds out the average clearance time. This is a two-part article. Part one deals with the performance and the outcome in terms of the quickness of clearance. Second part deals with the lessons learnt after the experience of merger review in India for the first time.
A 360 Degree Review of Penal Provisions’ Application under Competition Law ...KK SHARMA LAW OFFICES
Perhaps not many laws have been subject to so much public scrutiny as competition law either before its enactment or afterwards. Almost immediately after its enactment, just after a duly appointed Member had assumed office and before a duly appointed Chairman could enter office, the Competition Act, 2002(Act) was challenged on various counts. This resulted in a very strange situation. The Competition Commission of India (CCI) could not be called a Commission in terms of the Act which needed a minimum quorum of a Chairman and, at least, two Members for being a legally recognized Commission. So, the CCI remained a one Member body (not a full Commission) till as late as March 1, 2009 when, for the first time, a Chairman and two Members were in office and the CCI, in the eyes of law, was a full Commission. The enforcement powers to CCI came in stages. In first phase only advocacy functions were allowed. This was followed by antitrust enforcement powers being given to the Commission from May 20, 2009. Thereafter, regulations of combinations (popularly known as Merger Review) came into force with effect from June 1, 2011. There were always fears that the CCI may turn out to be as effective (or ineffective depending upon one’s perspective) as MRTPC. Now, that five years have passed since the time the CCI began to get its enforcement powers, it is high time to look back if the fears about the efficacy of the powers given to the CCI were justified or misplaced. The author, the only official in senior echelons of the CCI who not only saw the transition from a CCI doing only competition advocacy to a fully functional Commission but also played a very crucial role in this transition by way of being the very first Director General of the functional CCI, laying down the investigative framework of investigation, and later as the first head of Merger Control who gave the country its very efficient Merger Review Format, takes a look at this issue.
GOLDEN OPPORTUNITIES OF PRACTISING BEFORE TRIBUNAL - By CA. (Dr.) Rajkumar Ad...CA. (Dr.) Rajkumar Adukia
The author strongly believes that the professional should go beyond their traditional areas by expanding themselves to serve and not settle for less. The article provides you with such goldmines of opportunities in the litigation field wherein addition to advocates, non-advocate professionals such as the Chartered Accountants, Company Secretary, Cost Accountants also can have their fair share.
Omaxe reviews - a review of the competition issues in the real estate sector...omaxe-reviews
Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot with ladies.Omaxe Reviews get lot of hits on omaxe reviews official omaxe reviews introducing omaxe reviews and Mr. Anil Kumar get set go. Omaxe Reviews at next month but all over get hot.
This document provides study material for the Industrial, Labour and General Laws paper of the CS Executive Programme. It covers 19 lessons on various Indian labour laws like the Factories Act, Minimum Wages Act, Payment of Wages Act, etc. and 6 lessons on general laws related to the Indian Constitution, statutes, civil procedure code, criminal laws and Right to Information Act. The document discusses the objectives, scope, definitions, authorities and key provisions of each law to help students prepare for the examination. It also provides a syllabus, reading references and a specimen OMR sheet for multiple choice questions.
This document discusses labor laws and procedures for disciplinary action against employees in India. It begins by categorizing Indian labor laws into areas like industrial relations, wages, specific industries, and social security. It then focuses on laws related to industrial relations, specifically the Trade Unions Act of 1926. The document outlines the code of conduct and principles for disciplinary procedures, including preliminary inquiries, charge sheets, domestic inquiries, reports, show cause notices, and potential punishments. It emphasizes that natural justice and due process principles must be followed in any disciplinary actions.
In a sensitive order, a bench of the Madras High Court grants a convict two weeks’ leave for procreation and paves the way for similar liberal judgments in future
All organizations have a purpose and want to be successful in attaining that purpose which why many are recognizing the importance of corporate governance and of having someone responsible for it within their organization. The article unfolds such a goldmine of opportunities of providing services under corporate governance and at the same time given a perspective of the concept at both national and international level.
The Law Commission of India, headed by Justice (retd.) Balbir Singh Chauhan, has cautioned against moving too quickly to implement simultaneous national and state elections in India by 2019, as the existing constitutional framework does not allow for it. While previous reports by the Law Commission and a parliamentary committee supported the idea, they also warned that widespread consultation and cooperation between political parties would be needed for such a significant reform. The Election Commission is currently studying the Law Commission's recent report on the issue. The report concludes that 2019 is not a feasible time frame for holding synchronized polls and that constitutional amendments would be required.
Rating systems differ around the world, with the US relying on constitutional law, statutes, regulations, and common law, while India has ethical, moral, and contractual laws. Corporate governance aims to ensure companies are accountable to stakeholders and act in their best interests through transparency, fairness, and oversight of finances and leadership. Various regulations like the Companies Act and SEBI guidelines in India govern corporate governance, insolvency and bankruptcy, and the responsibilities of directors and shareholders.
APPEARANCE & AUDIT IN GST LAW DOMAIN OF ADVOCATESB S K RAO
This document discusses the domain of advocates under GST law in India. It makes three key points:
(1) Only advocates licensed by the Bar Council of India are allowed to practice law in India, based on previous court rulings. Chartered Accountants are not licensed to practice law.
(2) Legal profession in India is governed by the Advocates Act and regulations set by the Bar Council of India. Only advocates on the Bar Council rolls are subject to its disciplinary authority.
(3) Audit under GST law should be done by law professionals as it involves issuing legal certificates. Allowing chartered accountants to conduct GST audits could lead to legal issues with tax orders since they
The document provides an overview of Vietnam's labor laws and practices, including the following key points:
1) Labor relations are governed mainly by government decrees and regulations issued by the Ministry of Labor, Invalids and Social Affairs (MOLISA). MOLISA is responsible for state management of labor issues.
2) Labor laws are interpreted in favor of employees and disputes are often resolved in their favor. It is difficult for employers to terminate employees but easy for employees to terminate contracts.
3) Employers must ensure labor contracts and internal labor rules are consistent with labor laws to avoid invalidity. Fixed-term contracts give flexibility but have limits on extensions.
4) Upon termination or redundancy, employees
History of auditing in bangladesh [autosaved]Souman Guha
The document provides a history of auditing in Bangladesh. It discusses how the Office of the Comptroller and Auditor General is the supreme audit institution responsible for financial, compliance, and performance audits. It also outlines the development of the accountancy profession during the British colonial period and how it is now represented by two professional bodies. The document concludes by discussing how auditing will evolve to utilize more sophisticated software and focus on continuous, real-time auditing rather than periodic audits.
Recognition of a trade union refers to an agreement between an employer and union, rather than mere registration. While unions have a right to form, employers have no legal obligation to recognize any particular union. Some states like Maharashtra and Kerala have passed laws giving unions a right to claim recognition. Recognition is important when multiple unions exist in a workplace, as it allows the recognized union to negotiate wages and conditions on behalf of its members. Courts have held that the right to form unions does not guarantee effective collective bargaining or achievement of the union's purpose. Recognition depends on the employer's willingness and attitude, rather than being enforceable by law. Withdrawing recognition from a union once granted requires following principles of natural justice.
The article summarizes a recent order by the Competition Appellate Tribunal (COMPAT) that quashed a record penalty imposed by the Competition Commission of India (CCI) on cement manufacturing companies for cartelization. While the CCI found the companies guilty, the penalty was set aside by the COMPAT on procedural grounds rather than the merits of the case. Specifically, the COMPAT argued the penalty order was invalid because the CCI chairman who authored the order did not attend all oral hearings, despite other members being present. The article argues this technicality has diluted the deterrent effect of the penalty, and questions whether this was an appropriate application of procedural principles given the circumstances.
The document discusses the Trade Unions Act of 1926 in India. Some key points:
- The Act provides for the registration of trade unions and defines the law relating to registered trade unions. It aims to regulate relations between workers and employers.
- A trade union is defined as any combination of workers or employers formed to regulate their relations. It can include federations of multiple trade unions.
- To register, a trade union must have at least 7 members and apply to the Registrar. The Registrar will register it and maintain records. A registered trade union is a corporate body that can own property.
- The Act provides various protections and immunities to registered trade unions, such as
Section 3 to 6 of the Trade Union Act 1926 gives details about Registration of Trade Union and section 7 to 10 of the Act gives details about Registration , Certificate and Cancellation of Registration.
Industrial relations in Pakistan have evolved over time through various laws and policies. Currently, the system involves trade unions forming to represent workers that engage in collective bargaining and conflict resolution processes with employers as outlined in the Industrial Relations Ordinance 2010. However, challenges remain such as low union incomes, feudal systems, and restrictions on certain groups joining unions. Ongoing trends include efforts to increase employment opportunities, protect workers' rights, and address issues like the gender gap in the workforce.
This document outlines the curriculum for a course on labour legislation. It is divided into 8 units that will cover major Indian labour laws including the Apprentices Act, the Factories Act, the Industrial Dispute Act, the Minimum Wages Act, the Employees' State Insurance Act, the Workmen's Compensation Act, the Trade Unions Act, and the Employee Provident Fund and Miscellaneous Provisions Act. The document provides an overview of the topics and objectives covered in each unit along with the credit hours allocated for lectures and case studies. It also lists recommended textbooks, reference books, and journals for further reading on labour law topics.
Voters in India elect representatives at the federal, state, and local levels through a system of universal adult suffrage. Elections take place every five years and involve an enormous electorate of over 700 million people. The parliament has two chambers, with the lower house (Lok Sabha) having 543 directly elected members and the upper house (Rajya Sabha) having 233 indirectly elected members. Elections are administered by the independent Election Commission of India according to a detailed electoral process.
Requirements of registration for trade unionsFAST NUCES
the presentation is about the requirements of registration for trade union. moreover it has included the definition of trade union and its legal registration requirements. application for registration and requirements for application are also included. Although, it is providing information about the Trade unions and freedom of association.
The document summarizes major corporate law changes that occurred in India in 2015, including amendments to the Companies Act, Negotiable Instruments Act, Arbitration and Conciliation Act, Insurance Act, and the Black Money Act. Key changes were reducing minimum capital requirements for companies, allowing companies to directly commence business without a certificate, making common seals optional, passing related party transactions as ordinary resolutions, and preventing public access to board resolutions. For the Negotiable Instruments Act, jurisdiction for cheque bouncing cases was clarified. The Arbitration Act introduced provisions around arbitrator appointment and disclosures, timelines for awards, and challenge and execution of awards. The Insurance Act allowed 49% FDI and introduced consumer protections. The Black
The Trade Union Act 1926 defines a trade union as a combination of workers formed to regulate relations between employers and workers. It provides for the registration of trade unions which gives them certain protections and rights. The objectives of trade unions include securing fair wages, improving working conditions, resolving disputes, and promoting workers' welfare. The Act specifies requirements for registration such as a minimum number of members and rules regarding membership, finances, elections and dissolution. Registered trade unions have rights such as perpetual succession, holding property, and immunity from civil and criminal liability in certain matters.
The Trade Union Act of 1926 was passed to provide for the registration of trade unions and define laws relating to registered trade unions. Some key points:
- It established rules for forming a trade union, including a minimum membership requirement.
- Registered trade unions were given certain protections, like being recognized as a legal entity and immunity from civil suits relating to trade union activities.
- Obligations of registered trade unions included maintaining financial records, allowing broad membership, and filing annual reports.
The Act aimed to strengthen labour organizations and recognize unions as legal entities while establishing guidelines for their formation and operations.
Real Estate Sector despite being considered a risky sector as an investment has always been an attractive place for stakeholders. Speculating the effect of the stalled project over pending work of development, RERA has come up with a solution allowing the stakeholders themselves to continue with the pending construction of the project.
The document provides a backgrounder on the key highlights of the Companies Act, 2013. Some of the major changes introduced include:
- Definition of new terms like associate company, dormant company, foreign company, independent director, etc.
- Introduction of concepts like One Person Company, small companies with relaxed compliance.
- Faster registration process with e-governance features.
- Stricter disclosure norms for prospectus and allotment of securities.
- Provisions for reduction of share capital and redemption of preference shares.
- Enhanced role of e-governance for various company processes.
- Changes in board composition with limits on minimum and maximum number of directors.
Key Takeaways:
Need for Legislation
Establishment and Functions of Authority
Accounts and Finance Functions
Powers of Authority and Central Government
Overview of Regulators in Other Countries
Orcelik is a Turkish manufacturer of steel and wooden office furniture established in 1979 in Izmir. It operates out of a 16,000 square meter factory and 1,000 square meter showroom. Orcelik focuses on quality, customer satisfaction, trained workforce, and international manufacturing standards. It has successfully exported to 27 countries over the last 20 years, mainly wooden office furniture that has proven its quality worldwide.
Lt. Col. Brian Birdwell was walking back to his office when the Pentagon explosion occurred. The flash fire was immediate and the smoke was thick, knocking him to the ground and giving him a concussion. Once stabilized, he was transferred to a hospital, where the doctor said he likely would not have survived without immediate care due to jet fuel in his lungs.
Donald R. Bouchoux, a retired Naval officer, was driving near the Pentagon when American Airlines Flight 77 crossed in front of him and impacted the building. There was an enormous fireball, and debris from the plane rained down, with a piece hitting his vehicle.
Mark Bright, a Defense Protective Service officer, witnessed American Airlines Flight
All organizations have a purpose and want to be successful in attaining that purpose which why many are recognizing the importance of corporate governance and of having someone responsible for it within their organization. The article unfolds such a goldmine of opportunities of providing services under corporate governance and at the same time given a perspective of the concept at both national and international level.
The Law Commission of India, headed by Justice (retd.) Balbir Singh Chauhan, has cautioned against moving too quickly to implement simultaneous national and state elections in India by 2019, as the existing constitutional framework does not allow for it. While previous reports by the Law Commission and a parliamentary committee supported the idea, they also warned that widespread consultation and cooperation between political parties would be needed for such a significant reform. The Election Commission is currently studying the Law Commission's recent report on the issue. The report concludes that 2019 is not a feasible time frame for holding synchronized polls and that constitutional amendments would be required.
Rating systems differ around the world, with the US relying on constitutional law, statutes, regulations, and common law, while India has ethical, moral, and contractual laws. Corporate governance aims to ensure companies are accountable to stakeholders and act in their best interests through transparency, fairness, and oversight of finances and leadership. Various regulations like the Companies Act and SEBI guidelines in India govern corporate governance, insolvency and bankruptcy, and the responsibilities of directors and shareholders.
APPEARANCE & AUDIT IN GST LAW DOMAIN OF ADVOCATESB S K RAO
This document discusses the domain of advocates under GST law in India. It makes three key points:
(1) Only advocates licensed by the Bar Council of India are allowed to practice law in India, based on previous court rulings. Chartered Accountants are not licensed to practice law.
(2) Legal profession in India is governed by the Advocates Act and regulations set by the Bar Council of India. Only advocates on the Bar Council rolls are subject to its disciplinary authority.
(3) Audit under GST law should be done by law professionals as it involves issuing legal certificates. Allowing chartered accountants to conduct GST audits could lead to legal issues with tax orders since they
The document provides an overview of Vietnam's labor laws and practices, including the following key points:
1) Labor relations are governed mainly by government decrees and regulations issued by the Ministry of Labor, Invalids and Social Affairs (MOLISA). MOLISA is responsible for state management of labor issues.
2) Labor laws are interpreted in favor of employees and disputes are often resolved in their favor. It is difficult for employers to terminate employees but easy for employees to terminate contracts.
3) Employers must ensure labor contracts and internal labor rules are consistent with labor laws to avoid invalidity. Fixed-term contracts give flexibility but have limits on extensions.
4) Upon termination or redundancy, employees
History of auditing in bangladesh [autosaved]Souman Guha
The document provides a history of auditing in Bangladesh. It discusses how the Office of the Comptroller and Auditor General is the supreme audit institution responsible for financial, compliance, and performance audits. It also outlines the development of the accountancy profession during the British colonial period and how it is now represented by two professional bodies. The document concludes by discussing how auditing will evolve to utilize more sophisticated software and focus on continuous, real-time auditing rather than periodic audits.
Recognition of a trade union refers to an agreement between an employer and union, rather than mere registration. While unions have a right to form, employers have no legal obligation to recognize any particular union. Some states like Maharashtra and Kerala have passed laws giving unions a right to claim recognition. Recognition is important when multiple unions exist in a workplace, as it allows the recognized union to negotiate wages and conditions on behalf of its members. Courts have held that the right to form unions does not guarantee effective collective bargaining or achievement of the union's purpose. Recognition depends on the employer's willingness and attitude, rather than being enforceable by law. Withdrawing recognition from a union once granted requires following principles of natural justice.
The article summarizes a recent order by the Competition Appellate Tribunal (COMPAT) that quashed a record penalty imposed by the Competition Commission of India (CCI) on cement manufacturing companies for cartelization. While the CCI found the companies guilty, the penalty was set aside by the COMPAT on procedural grounds rather than the merits of the case. Specifically, the COMPAT argued the penalty order was invalid because the CCI chairman who authored the order did not attend all oral hearings, despite other members being present. The article argues this technicality has diluted the deterrent effect of the penalty, and questions whether this was an appropriate application of procedural principles given the circumstances.
The document discusses the Trade Unions Act of 1926 in India. Some key points:
- The Act provides for the registration of trade unions and defines the law relating to registered trade unions. It aims to regulate relations between workers and employers.
- A trade union is defined as any combination of workers or employers formed to regulate their relations. It can include federations of multiple trade unions.
- To register, a trade union must have at least 7 members and apply to the Registrar. The Registrar will register it and maintain records. A registered trade union is a corporate body that can own property.
- The Act provides various protections and immunities to registered trade unions, such as
Section 3 to 6 of the Trade Union Act 1926 gives details about Registration of Trade Union and section 7 to 10 of the Act gives details about Registration , Certificate and Cancellation of Registration.
Industrial relations in Pakistan have evolved over time through various laws and policies. Currently, the system involves trade unions forming to represent workers that engage in collective bargaining and conflict resolution processes with employers as outlined in the Industrial Relations Ordinance 2010. However, challenges remain such as low union incomes, feudal systems, and restrictions on certain groups joining unions. Ongoing trends include efforts to increase employment opportunities, protect workers' rights, and address issues like the gender gap in the workforce.
This document outlines the curriculum for a course on labour legislation. It is divided into 8 units that will cover major Indian labour laws including the Apprentices Act, the Factories Act, the Industrial Dispute Act, the Minimum Wages Act, the Employees' State Insurance Act, the Workmen's Compensation Act, the Trade Unions Act, and the Employee Provident Fund and Miscellaneous Provisions Act. The document provides an overview of the topics and objectives covered in each unit along with the credit hours allocated for lectures and case studies. It also lists recommended textbooks, reference books, and journals for further reading on labour law topics.
Voters in India elect representatives at the federal, state, and local levels through a system of universal adult suffrage. Elections take place every five years and involve an enormous electorate of over 700 million people. The parliament has two chambers, with the lower house (Lok Sabha) having 543 directly elected members and the upper house (Rajya Sabha) having 233 indirectly elected members. Elections are administered by the independent Election Commission of India according to a detailed electoral process.
Requirements of registration for trade unionsFAST NUCES
the presentation is about the requirements of registration for trade union. moreover it has included the definition of trade union and its legal registration requirements. application for registration and requirements for application are also included. Although, it is providing information about the Trade unions and freedom of association.
The document summarizes major corporate law changes that occurred in India in 2015, including amendments to the Companies Act, Negotiable Instruments Act, Arbitration and Conciliation Act, Insurance Act, and the Black Money Act. Key changes were reducing minimum capital requirements for companies, allowing companies to directly commence business without a certificate, making common seals optional, passing related party transactions as ordinary resolutions, and preventing public access to board resolutions. For the Negotiable Instruments Act, jurisdiction for cheque bouncing cases was clarified. The Arbitration Act introduced provisions around arbitrator appointment and disclosures, timelines for awards, and challenge and execution of awards. The Insurance Act allowed 49% FDI and introduced consumer protections. The Black
The Trade Union Act 1926 defines a trade union as a combination of workers formed to regulate relations between employers and workers. It provides for the registration of trade unions which gives them certain protections and rights. The objectives of trade unions include securing fair wages, improving working conditions, resolving disputes, and promoting workers' welfare. The Act specifies requirements for registration such as a minimum number of members and rules regarding membership, finances, elections and dissolution. Registered trade unions have rights such as perpetual succession, holding property, and immunity from civil and criminal liability in certain matters.
The Trade Union Act of 1926 was passed to provide for the registration of trade unions and define laws relating to registered trade unions. Some key points:
- It established rules for forming a trade union, including a minimum membership requirement.
- Registered trade unions were given certain protections, like being recognized as a legal entity and immunity from civil suits relating to trade union activities.
- Obligations of registered trade unions included maintaining financial records, allowing broad membership, and filing annual reports.
The Act aimed to strengthen labour organizations and recognize unions as legal entities while establishing guidelines for their formation and operations.
Real Estate Sector despite being considered a risky sector as an investment has always been an attractive place for stakeholders. Speculating the effect of the stalled project over pending work of development, RERA has come up with a solution allowing the stakeholders themselves to continue with the pending construction of the project.
The document provides a backgrounder on the key highlights of the Companies Act, 2013. Some of the major changes introduced include:
- Definition of new terms like associate company, dormant company, foreign company, independent director, etc.
- Introduction of concepts like One Person Company, small companies with relaxed compliance.
- Faster registration process with e-governance features.
- Stricter disclosure norms for prospectus and allotment of securities.
- Provisions for reduction of share capital and redemption of preference shares.
- Enhanced role of e-governance for various company processes.
- Changes in board composition with limits on minimum and maximum number of directors.
Key Takeaways:
Need for Legislation
Establishment and Functions of Authority
Accounts and Finance Functions
Powers of Authority and Central Government
Overview of Regulators in Other Countries
Orcelik is a Turkish manufacturer of steel and wooden office furniture established in 1979 in Izmir. It operates out of a 16,000 square meter factory and 1,000 square meter showroom. Orcelik focuses on quality, customer satisfaction, trained workforce, and international manufacturing standards. It has successfully exported to 27 countries over the last 20 years, mainly wooden office furniture that has proven its quality worldwide.
Lt. Col. Brian Birdwell was walking back to his office when the Pentagon explosion occurred. The flash fire was immediate and the smoke was thick, knocking him to the ground and giving him a concussion. Once stabilized, he was transferred to a hospital, where the doctor said he likely would not have survived without immediate care due to jet fuel in his lungs.
Donald R. Bouchoux, a retired Naval officer, was driving near the Pentagon when American Airlines Flight 77 crossed in front of him and impacted the building. There was an enormous fireball, and debris from the plane rained down, with a piece hitting his vehicle.
Mark Bright, a Defense Protective Service officer, witnessed American Airlines Flight
Newham TV are licensed TV installation experts with a high profile reputation in East London. When it comes to outstanding professionalism in putting a technological digital screen in your home, we are unbeatable!
El documento resume los principales puntos acordados en el Convenio Colectivo de Construcción Civil 2015-2016 en Perú. Se acordó incrementar los jornales básicos de los trabajadores y extender beneficios como la asignación escolar y el permiso por duelo. También se detallan los nuevos montos de remuneraciones, horas extras, bonificaciones y demás beneficios sociales para los trabajadores de construcción civil para el periodo de junio de 2015 a mayo de 2016.
This document discusses how social media has impacted journalism. It has led to faster dissemination of news as audiences want immediate stories. Journalists now use tools like Twitter to share information and engage audiences. Microblogging allows the public to participate in citizen journalism by verifying or witnessing news. However, social media sources are less credible than traditional outlets and information could be altered. The document also outlines benefits like increased traffic, failures like revenue challenges, and lessons on using social media responsibly as a journalistic tool.
Las computadoras de escritorio se volvieron populares entre 1980 y 1990, usadas tanto en oficinas como en hogares. Sin embargo, para el 2000 comenzaron a declinar por el reemplazo de notebooks, tablets y celulares inteligentes. Científicos israelíes crearon la primera computadora biológica usando células que actúan como puertas lógicas, procesando señales bioquímicas en lugar de eléctricas.
The article discusses audience reactions to the film "Joker" that some have called "delusional" for appearing to empathize with or glorify the title character's violent acts. Critics argue the film fails to sufficiently critique the character or show the real-world consequences of violence, though supporters counter that it is meant to portray mental illness and spark discussion around social issues.
The document summarizes the development and implementation of merger control regulations in India by the Competition Commission of India (CCI). It discusses how there was initial opposition to bringing merger control provisions into force, but that the CCI was finally able to notify final merger regulations in May 2011. It describes some initial amendments made by the CCI in 2012 and 2013 to refine the merger review process based on experience. It also notes that after over two years of implementation, it is an appropriate time to review the CCI's performance in regulating combinations and mergers under Indian competition law.
“ India recently completed a little over two years of regulation of combinations.
In contrast to the exaggerated fears associated with the likely bringing into force
of the provisions relating to regulation of combinations before the provisions
were actually notified w.e.f. June 1, 2011, the two years have passed rather
peacefully. The author , Mr. K K Sharma, former Head of Merger Control and
Director General, CCI, who laid the foundations of regulation of combinations
in India by way of devising the Merger Review Format as well as making it
successfully functional , reviews the performance of Competition Commission of
India in regulation of combinations and discusses the associated issues. He also
throws light on merger filing Form 1 which is almost the simplest in the world
for a jurisdiction having almost the highest thresholds in the world. He places on
record the deft handling of the regulation of combinations by CCI.”
A detailed perspective of the background, the present functioning and the future possibilities of the merger control regime in India as it unfolds with the passage of time by the architect of merger control in India.
This document discusses some areas for potential improvement in the functioning of the Competition Commission of India (CCI). It notes that over 7 years, the CCI has not grown as effectively as expected given the size of India's economy and prevalence of anticompetitive practices. The document discusses three key areas - institutionalizing institutional memory to avoid repeating work, improving how information from informants is dealt with to protect identities and encourage more cases, and making greater use of sua sponte investigations instead of just reacting to cases. Maintaining proper records and knowledge management could help the CCI function more effectively.
A detailed perspective of the background, the present functioning and the future possibilities of the merger control regime in India as it unfolds with the passage of time by the architect of merger control in India.
Combination Review in India: Lessons So Far - Part II - KK SharmaKK SHARMA LAW OFFICES
In the immediately preceding issue, the performance of the CCI in the task of
regulations of combinations, as compared to international standards, was discussed
and found to be really impressive for any new competition agency. However, this
experience in regulation of combinations has thrown up interesting lessons in
merger control. In this concluding part, the author, who laid down the basic
analytical and procedural framework for combination review, as the first Head of
Merger Control CCI, in India, takes a look at the lessons from the journey in
merger control so far in India. The comparisons with other jurisdictions throw
up extremely interesting results as seen here in this concluding part.
Compared to the other enforcement provisions of the Act, the merger control
provisions, or regulation of combinations as these are called in India, are of more
recent origin. The regulations drafted by the Competition Commission of India
(the Commission) for regulation of the combinations, in an attempt to make the
combination regulations more business friendly, have given a window of not filing
the merger filings before the Commission in some cases of combinations where the
possibilities of the Appreciable Adverse Effect on Combination (AAEC) are lesser.
The question arises as to how to deal with the instances where the parties do not file
the details of any combination and the Commission is of the opinion that the
combination either causes or is likely to cause an AAEC in the relevant market.
The author, who was the architect of the introduction of schedule 1 for the
exempt type categories while drafting the combination regulations for India as
the first Head of Merger Control in India and thus making regulation of
combinations a reality in India, delves deep into the issue and looks at the possible
solutions. In his view, the Commission still has freedom to act against any
combination causing AAEC – whether above or below thresholds.
This document provides an analysis of the Real Estate (Regulating and Development) Act 2016 in India. It is divided into 6 parts: 1) Introduction, 2) Framework, 3) Nature of functions, 4) Current track record, 5) Comparison to other state acts, and 6) Conclusion. The analysis examines how the Act establishes a regulatory authority to regulate and promote the real estate sector in an efficient and transparent manner. It regulates developers, agents, and protects consumer interests. While aiming to improve transparency, the Act may initially cause a slowdown in the real estate sector as developers adjust to the new regulations.
Ex-Parte Prima Facie order by the Competition Commission of India – A CritiqueKK SHARMA LAW OFFICES
Prima facie view or opinion as to existence or absence of a case by the Competition
Commission of India is an extremely crucial decision. Affirmative decision as to
existence of an anti competitive/abusive practice triggers a full fledged Inquiry.
Likewise, a prima facie view that there is no case of infringement of provisions of
Competition Act results in dropping of further proceedings. It is significant for
parties involved.
India: Prohibition of Anti-Competitive Agreements and Abuse of Dominant PositionKK SHARMA LAW OFFICES
“Unlike the time when recall value of competition was associated only with examinations or sports, the awareness about competition law has come a long way when almost every other day CCI is in the news for reprimanding the erring
market players. Fines for anti-competitive conduct are huge as seen in cases such as that of DLF and cement companies. Having completed a little over four years of active enforcement and nearly ten years of advocacy, CCI has carved a niche for
itself. The author, Mr. K K Sharma, Chairman, KK Sharma Law Offices and former Director General, CCI, having the rare privilege of both drafting and implementing the law as well as being at the cutting edge by way of sculpting the
very first investigations and heading Merger Control and Anti-trust Divisions looks back and sums up the four years of cartel enforcement in India in this article.“
Calibrating the Pulse of Competition Law in Indiaelithomas202
The document discusses emerging trends in India's competition law, based on a survey conducted by EY. Some key points:
- There is a low awareness of competition law among Indian enterprises, with over 80% unaware of the law and its implications. Multi-national corporations are generally more aware and compliant.
- Dawn raids by the investigating authority are expected to increase in the coming year, increasing the need for e-discovery capabilities to examine electronic records.
- Data available for economic analyses in antitrust cases is often unstructured and widespread, hindering effective market analyses.
- Guidelines are needed for determining appropriate penalties, as penalties levied so far have varied without clear reasons. Over 90% of
Competition Law is in an evolutionary stage in India having completed a little over five years in India. The orders in the initial stage of enforcement have a huge impact on the progress of this law in the country. Here, K K Sharma ex Director General, CCI discusses the 3:2 order of CCI in Jaypee case. In this case by a slender majority of one, the Commission decided not to impose any fine on Jaypee group holding it not to be dominant in the relevant market. The Market definition itself was changed. Earlier DG was asked to investigate according to a particular market definition but when the report of DG was submitted , the majority did not agree and went back to earlier definition in which the group was not dominant. The author who , now, is Chairman, KK Sharma Law Offices discusses in detail this case in this article.
Evaluation Of Indian Companies Act 1956- Is It Capable Enough To Accelerate T...IOSR Journals
This study is to highlight the hassles being struggled by the industry in view of the compliance requirement focusing theimpact of the requirement of prior approval from the Central Govt. under Section 297 of the Indian Companies Act 1956. The impact of the said section on the industrial development is evaluated in this study based on the core issue of opportunity cost involved in this regard.
ELP Knowledge Series, a quarterly analysis of curated topics pertaining to critical legal and regulatory developments that can create risk for businesses in India.In the last quarter, most notably, the Supreme Court of India has settled the corporate bankruptcy process in India through its landmark decision in the Essar Steel – Arcelor Mittal case. This judgment will definitely impact the non performing assets situation in the country.
Presentation on The competition act(2002)satya pal
The document summarizes the key aspects of the Competition Act of 2002 in India. It discusses the objectives of eliminating anti-competitive practices and promoting fair competition. The main features covered are the prohibition of anti-competitive agreements such as cartels, abuse of dominant market positions, and regulations governing mergers and acquisitions. Enforcement is carried out by the Competition Commission of India through investigations and imposition of penalties. The act aims to protect consumer welfare and ensure fair competition in the market.
Reality Bites: A Review of Penal Provisions under the Competition LawKK SHARMA LAW OFFICES
Despite being a new law in its own right, the Competition Act, 2002 (the Act)
is still perceived as a successor to the Monopolies and Restrictive practices Act,
1969 (MRTPC Act). There is a need for a better appreciation that, unlike MRTPC,
the CCI has adequate powers to deal with the delinquent enterprises, to ensure
that it is in a position to effectively fulfill the mandate given to it. Through a
discussion of the penal provisions of the Act, the author, who played a pioneering
role in establishing the CCI, sets the record straight about the adequate penal
powers given to the CCI to be in a position to be an effective regulator by making
a comparison between the earlier MRTPC regime and, after its repeal, the present
competition regime under CCI. On comparison, the author feels that the CCI
has adequate powers to deal with the responsibility entrusted to it.
The document summarizes major corporate law changes that occurred in India in 2015, including amendments to the Companies Act, Negotiable Instruments Act, Arbitration and Conciliation Act, Insurance Act, and the Black Money Act. Key changes were reducing minimum capital requirements for companies, allowing companies to directly commence business without certification, making common seals optional, passing related party transactions as ordinary resolutions, and preventing public access to board resolutions. For the Negotiable Instruments Act, jurisdiction for cheque bouncing cases was clarified. The Arbitration Act introduced provisions around arbitrator appointment and disclosures, timelines for awards, and challenge and execution of awards. The Insurance Act allowed 49% foreign investment and increased consumer protections.
1. The document discusses judicial and legislative responses to the COVID-19 pandemic regarding the Insolvency and Bankruptcy Code (IBC) in India. The Supreme Court extended limitation periods for all legal proceedings. The NCLAT excluded lockdown periods from IBC resolution timelines. Regulations were amended to relax post-CIRP timelines by excluding lockdown periods.
2. The government increased the IBC default threshold from Rs. 1 lakh to Rs. 1 crore to provide relief to MSMEs. Notifications were issued to relax IBC timelines by excluding lockdown periods.
3. The changes aim to provide cushion to companies facing financial distress from COVID-19 and ease pressure on
The Competition Act 2002 provides for prohibition of abuse of dominant position. However, the provisions of unfair trade practices earlier covered by the Monopolies and Restrictive Trade Practices Act, 1969,are not covered under the competition law. The apparent effect of the two being quite similar, there is a considerable possibility that a situation very close to unfair trade practices may be held to be an abuse of dominant position. The difference being very close, the article looks at the penalty handed out to DLF Ltd for abuse of dominant position from this perspective.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Similar to Combination Review in India: A Mid-year Review (Part I) - K.K. Sharma (20)
Economies (Efficiencies) – An Essential Consideration in Merger AnalysisKK SHARMA LAW OFFICES
The document discusses the evolving consideration of efficiencies (economies) in merger analysis under competition law. It notes that while competition law aims to preserve competition, the essential objective is efficient market outcomes. Most jurisdictions now accept efficiencies as a justification for approving mergers. However, quantifying and weighing efficiencies can be complex. The document examines how the US, Canada, and Australia incorporate efficiencies in their merger analysis, representing three approaches: as part of substantive assessment, as a defense, and through authorization. It concludes there is need for transitional economies like India to recognize efficiencies in competition law and policy.
Some Thoughts for CCI-II: Participatory Competition Law EnforcementKK SHARMA LAW OFFICES
Carrying forward, the theme of an earlier article, the author looks at the authorised
representation before the Competition Commission of India (‘Commission’) and
whether it continues the way it was envisaged in the Act or tilting in favour of
any particular profession. He also examines the newly started practice of the
Commission calling the opposite parties during the preliminary hearings with
the informant to fully understand the matter. There were certain amendments
introduced to the Competition Act, 2002(‘Act’) in September, 2007. The issue
being examined in this article also includes the point if this practice is compatible
with the amendments of 2007 to the Act.
The author who not only was closely involved in amendments of 2007, drafting
regulations for the functioning of the Commission and headed the Antitrust
Division of CCI but was also the first Director General of the functional
Commission discusses the compatibility of this new practice with the probability
of success of investigation process in this article.
Counter Point - V: First Economic Study in DG Report to examine two models of...KK SHARMA LAW OFFICES
Ever since the time when the powers of enforcement were conferred on the
Competition Commission of India (CCI) in May, 2009, there has been a
continuous evolution of the competition law in the country in the form of decisions
of the CCI in various informations brought before it. Amongst various cases
before it, the case No. 3 of 2009, one of the very first cases before the CCI was
interesting from many angles. First of all, this was the first instance where the
help of economic anlysis was taken by Director General (DG), in his report to
arrive a t his findings. Secondly, it was a case where, three associations of travel
agents were actively involved in boycott of an airlines wheres the other three
associations were not actively involved in the boycott but their names were used
by the remaining three associations in the agitation. The ‘not active’ associations
had also not hauled by the three ‘active’ associations for use of their name in their
hoardings but had also not contributed towards the funding of the agitations
without any visible resistance from the ‘not active’ associations.
The author who supervised the preparation of the report of the DG for the Commission
also introduced economic analysis in this case for the first time as the very first
Director General of the functional Competition Commission of India looks back at
the case and the dissenting orders passed by two Members of the CCI
Counter Point - III: Anti-competitive Practices in Pharmaceutical Sector- Cas...KK SHARMA LAW OFFICES
As done in some of the previous issues of Competition Law Reporter (CLR),
continuing with the series on dissenting and separate orders of different members
of the Competition Commission of India (Commission) in some of the cases, in
this write up the focus is on an old case filed before erstwhile MRTPC and
transferred to the Commission under the scheme, provided under the Competition
Act, 2002 (the Act ), to deal with such cases on repeal of MRTPC Act, 1969 and
commencement of enforcement of the Act w.e.f. May 20,2009. This was followed
by similar informations filed before the Commission alleging anticompetitive
practices in pharmaceutical distribution and retail sector. Various studies have
documented the prevalence of a number of anticompetitive practices in the
pharmaceutical sector which are so deeply entrenched that even pharmaceutical
giants have to succumb to them. The reason of successful perpetuation of these
anticompetitive practices is that the players responsible for initiation of these
practices and their continuation have not only have a wide reach across the
country but are extremely well organised. Interestingly, most of these informations
landed before the Commission because of the infighting amongst members of the
associations responsible for these practices or when one or some of the office bearers
of these associations became too domineering with other ordinary members. The
author, who as the first Director General of the Commission put the competition
law investigation framework in place and supervised the very first investigations,
looks at the different orders passed by the Commission and its members and the
way similar issues were handled in other jurisdictions worldwide.
Way back in September, 2007, the Competition Act, 2002 (the Act) was amended
by the Competition (Amendment ) Act, 2007 ( the Amendment Act). This had
become necessary on account of numerous legal challenges to the implementation
the competition law in India despite the enactment of the Act in January, 2003.
These amendments added an altogether new chapter creating a new appellate
structure in between the decisions of the Competition Commission of India (the
Commission) and the Supreme Court which was not existing in the original Act
as enacted in January, 2003. Thus came into existence a new body known as the
Competition Appellate Tribunal (COMPAT). In addition to this amendment,
the Amendment Act also made many significant amendments to the Act. One
such amendment was replacement of the word ‘complaint’ with ‘ information’ in
section 19 of the Act. This write up limits itself to looking only at this amendment
to section 19 of the Act.
The author who assisted the Commission in drafting the regulations for various
aspects of the functioning of the Commission and headed the Antitrust Division
of CCI to actually implement these regulations in real practice and also was the
first Director General of the functional Competition Commission of India
examines the implication of this amenmdment in this article.
The Competition (Amendment ) Bill, 2012, Bill No. 136 of 2012 ( the Amendment
Bill 2012) lapsed before it could become a law because of the dissolution of the then
lower house of Parliament just before the general elections leading to the present
Government, at the centre, came to power. One of the amendments, proposed in
this Amendment Bill 2012, sought to make changes in Section 26 of the Act to
allow some clear lee way to the Competition Commission of India (Commission) to
differ from the report of the Director General(DG) and close the matter despite the
DG having come to the conclusion that there is a violation of competition law
after he has investigated into the allegations of violations of competition law. Such
clarity, sought to be introduced by the Amendment Bill, 2012, is missing in the
relevant provisions of the Act as they stand today. In the appropriate provisions, as
they exist today, there is enough room for inquiry by the Commission in addition
to the investigation by the Director General(DG) after investigation by DG is
done. The natural corrollary is that a poorly investigated report by DG can not be
either a basis or excuse for not upholding violations of competition law if found in
a prima facie opinion of the Commission. However, it is a moot point if this part of
the mandate is being fully exercised at present or not.
It is this part of inquiry by the Commission after the report has been submitted by
the DG which the author, who headed the Antitrust Division of CCI to actually
see the implementation of functional regulations in real practice and also assisted
the Commission in drafting these regulations, discusses in this article.
The Competition Commission of India(CCI) had imposed a penalty of Rs. 672 Crores, cumulatively, on four public sector general insurance companies. All the four companies preferred an appeal before the Competition Appellate Tribunal
(COMPAT). In its appellate order, the COMPAT did not disagree with CCI as far as the applicability of penalty was concerned but reduced the quantum by Rs. 670 Crores.
The write up discusses ONLY the factual aspects of the case, strictly for academic purposes, WITHOUT airing any personal opinions on the issue. This is being done on account of the fact of the author being professionally involved in the matter.
Baby Steps of Competition Law Jurisprudence in Pharmaceutical Sector - K.K. S...KK SHARMA LAW OFFICES
The document summarizes an order by the Competition Appellate Tribunal (COMPAT) regarding appeals in the pharmaceutical sector. The order disposed of multiple appeals related to alleged anti-competitive practices by chemists' associations.
The key issues addressed were requirements for pharmaceutical companies to obtain no-objection certificates or product information service approvals from chemists' associations, as well as fixed trade margins. The appellants argued the investigation conducted by the Director General was flawed and violated principles of natural justice. COMPAT analyzed the relevant sections of the Competition Act and regulations at length before determining the Commission is bound by principles of natural justice in its adjudicatory functions.
Counter Point - III: Anti-competitive Practices in Pharmaceutical Sector -Cas...KK SHARMA LAW OFFICES
As done in some of the previous issues of Competition Law Reporter (CLR), continuing with the series on dissenting and separate orders of different members of the Competition Commission of India (Commission) in some of the cases, in
this write up the focus is on an old case filed before erstwhile MRTPC and transferred to the Commission under the scheme, provided under the Competition Act, 2002 (the Act ), to deal with such cases on repeal ofMRTPC Act, 1969 and
commencement of enforcement of the Act w.e.f.May 20,2009. This was followed by similar informations filed before the Commission alleging anticompetitive practices in pharmaceutical distribution and retail sector. Various studies have documented the prevalence of a number of anticompetitive practices in the pharmaceutical sector which are so deeply entrenched that even pharmaceutical
giants have to succumb to them. The reason of successful perpetuation of these anticompetitive practices is that the players responsible for initiation of these practices and their continuation have not only have a wide reach across the
country but are extremely well organised. Interestingly,most of these informations landed before the Commission because of the infighting amongst members of the associations responsible for these practices orwhen one or some of the office bearers of these associations became too domineering with other ordinary members. The author, who as the first Director General of the Commission put the competition
law investigation framework in place and supervised the very first investigations, looks at the different orders passed by the Commission and its members and the way similar issues were handled in other jurisdictions worldwide.
Some Thoughts for CCI-II : Participatory Competition Law Enforcement - K K Sh...KK SHARMA LAW OFFICES
Carrying forward , the theme of an earlier article, the author looks at the authorised representation before the Competition Commission of India (‘Commission’) and whether it continues the way it was envisaged in the Act or tilting in favour of any particular profession. He also examines the newly started practice of the Commission calling the opposite parties during the preliminary hearings with the informant to fully understand thae matter. There were certain amendments introduced to the Competition Act, 2002(‘Act’) in September, 2007. The issue being examined in this article also includes the point if this practice is compatible with the amendments of 2007 to the Act.
The author who not only was closely involved in amendments of 2007, drafting regulations for the functioning of the Commission and headed the Antitrust Division of CCI but was also the first Director General of the functional Commissiondiscusses the compatibility of this new practice with the probability of success of investigation process in this article.
Economies (Efficiencies) – An Essential Consideration in Merger Analysis - KK...KK SHARMA LAW OFFICES
While the purport of competition law is to preserve and promote competition, the
essential object of competition is to ensure optimal allocation of available resources,
produce more while using less resources and thus, achieve efficient market
outcomes. Generally, the efficiency is accepted as a defence in competition law.
Ignorance of economies (efficient use of resources) by competition law and
competition enforcement agencies would prejudice the very object of preserving
competition. However, one should also acknowledge that scientific quantification and weighing of efficiencies are complex tasks.
Automobile Manufacturers Fined for Restricting Access to Replacement Parts - ...KK SHARMA LAW OFFICES
Competition Law and Intellectual Property Rights (IPRs), since ages, have had a difficult marriage. As is popularly believed that a happy, successful and enduring marriage, between spouses, is good for the growth, stability and future development of the children, nearly in a similar way, it is necessary for this marriage between competition law and IPRs for the overall and long-term benefit of the society. IPRs are statutorily given monopolies and these are given for good reasons to induce inventions and other creative outcomes from some gifted members of the society to be revealed to the society at large so that , in exchange for granting of short term monopoly to the contributor of the IPRs, the society is revealed the new inventions and creations which become publicly available after the lapse of statutorily granted monopoly time period. During the period during the grant of these statutorily allowed monopolies, the holder of IPRs is permitted reasonable protection under competition law as well. The order in automobiles spare parts’ case passed by CCI on the question of reasonableness is an important landmark in this area of jurisprudence of IPRs and competition law. The author, who as the first Director General of functional Competition Commission of India, established the competition law investigation framework in India, looks back at this order of CCI in this piece.
Importance of Being a Member of CCI : Order in Jypee Case --K K Sharma KK SHARMA LAW OFFICES
Recently, the Competition Commission of India(Commission or CCI) came up with, perhaps, its first very closly contested order wherein a majority of 3 members held that the Jaypee Group was not in a dominant position in the relevant market of ‘residential units’ in Noida and Greater Noida and , therefore, was not to be imposed any penalty upon for abuse of dominant position. On the other hand, a minority of 2 Members imposed a penalty of Rs. 666 crores on the group for abusing its dominant position in the relevant market of ‘integrated townships’ in Noida and Greater Noida.This was a case wherein the DG was asked to submit a supplementary report after carrying out further investigations. The DG submitted his supplementary report which substantially differed from the earlier finding by the DG as far as the dominant position was considered. It was this aspect of the matter which dramatically changed the contours of the case. After the new recommendations of the DG pointed to considerably changed position and held Jaypee group to be dominant in the newly defined relevant market as suggested by the Commission, the majority opinion differed from this new finding and went back to the earlier finding of DG and thus not imposing penalty on the group but the minority went ahead and imposed a penalty. The author who headed the Antitrust Division of CCI , when now well known case of DLF was being examined within CCI, and was the first Director General of the functional Competition Commission of India and made the architecture for the competition law investigation in the country looks at this interesting order in this write up.
Portion for the box
The Competition Act, 2002 (the Act), which on June 1, 2011, became fully functional, has been hailed as ‘close to state-of-art’ and ‘embodying an economics based approach’ by OECD and WTO respectively. It is an interesting mix of the best components of law and judicial precedents from the jurisdictions which have been practicing this law for decades and even longer. It contains many concepts which took long years of judicial evolutionary journey in different jurisdictions and are considered nearly integral part of the law today. One such concept is the concept of ‘effects’ doctrine’ or ‘the principle of extraterritoriality’ contained in section 32 of the Act. The author discusses the background of this concept and its future in Indian context.
Article on teleInter- Regulatory Space : A case for healthy cooperation --- K...KK SHARMA LAW OFFICES
The Competition Commission of India (CCI) seeks to develop a formal consultation mechanism with sector regulators like the Department of Telecommunications (DoT) regarding merger and acquisition rules. The CCI's mandate under the Competition Act is to examine combinations (mergers and acquisitions) across all sectors that may have adverse competitive effects. Developing coordination between regulators could help avoid potential jurisdictional conflicts and regulatory uncertainty for businesses. The CCI aims to establish healthy cooperation with sector regulators based on their respective expertise to best promote competition while providing certainty to markets.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
Matthew Professional CV experienced Government LiaisonMattGardner52
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Combination Review in India: A Mid-year Review (Part I) - K.K. Sharma
1. B-312012]
COMPETITION LAW REPORTS ™ FEBRUARY, 2012
Section B
Articles
Combination Review in India: A Mid-year Review (Part I)
K.K. Sharma*
In this two-part article, the first part of which appears here, the author, the chief
architect behind the review format of Merger Review in India, takes a look at the
performance of the Competition Commission of India (CCI) in handling the
regulations of combinations (merger review) in India and how does it compare
with international standards. The stark contrast between the anxious reactions
before the regulations of combinations came into force and the deafening silence,
even after 19 approvals have been given by the CCI, has also been briefly touched
upon. The next part, to follow, shall deal with the lessons arising from the
journey of merger control in India so far.
* Commissioner of Income Tax, Govt of India, Kochi, India. He was Director General & Head
of Merger Control, in CCI till recently. The views in this article are personal. He can be
reached at kksharmairs@gmail.com
93
The thought for this write up has been with
me for quite some time. To succumb or not
to succumb to the temptation of sharing
my thoughts was an extremely difficult
dilemma. “Damn if you do and damn if
you don’t.” Not agreeing to the call from
within would have meant an extremely
important milestone being missed out
without as much as a whimper despite
having such a stormy legacy. At the same
time giving in to my internal desire was
also a really tough call-primarily because
of the apparent conflict of interest or
something which can be alleged to be a
conflict of interest irrespective of the most
neutral viewpoint taken. I wanted to keep
away from this matter for the fear of being
accused of blowing my own trumpet. This
hesitation emanated, essentially, from the
fact that I was entrusted by the Competition
Commission of India (CCI) with the job of
bringing the procedural and analytical
format for combination review (also more
popularly known as “merger review”) into
existence in India. The difficulty in this
assignment was that no such template
existed which could suit the requirements
of the factors of determination given in
Section 20(4) of the Competition Act,
2002(the Act). No doubt, the Act has
2. Competition Law ReportsB-32 [Vol. 1
COMPETITION LAW REPORTS ™ FEBRUARY, 2012
attempted to collect nearly all the factors
either given in the laws of developed
jurisdictions or the ones which came to
be recognised as a result of the
development of the competition law
jurisprudence in the jurisdictions which
have been practicing this craft for a longer
time in comparison. Even those
jurisdictions from where some of these
factors have come from either did not have
a documented analytical framework (as
it had evolved over a period of time
without a due documentation of this
evolution) or did not want to share it in
the name of confidentiality. For these
reasons, starting from the first principles,
a procedural and analytical framework
rooted in the ethos and principles
embodied in the Act was developed.
Naturally, any applause, from me, may
have the potential to be viewed as suspect,
as self-praise, despite the fact that I am no
longer with the CCI.
However, completion of a half-year term
with quiet but resounding success is too
big a landmark to be missed. If nobody else,
competition law history of the country will
never forgive someone who, despite having
some germination of ideas, let this historic
moment pass without any record. It is often
said that 100 days is a big time in politics.
May be, borrowing the same analogy, we
can say that 180 days is a long enough
period in the history of a competition
agency to have a look at the performance,
in any chosen area of its functioning, as it
gives an idea of the trends so badly needed
to assess its effectiveness as well as
proclivities, if any, for helping the attorneys
as well as business to navigate the
combination review tunnel with grace and
minimum regulatory burden. After waiting
for nearly a month, despite tremendous
resistance from within, I have gathered
enough courage to put the record straight
and give devil its due.
In the history of competition law in India,
there are four distinct periods. The first
period began from 26th
February, 1999 till
13th
January, 2003 the day the Act was
enacted. This period begins with the
resolve of the nation being reflected in the
declaration, in the parliament, by the then
Finance Minister that the country needed
a new modern competition law and any
further patch work on the then existing
Monopolistic and Restrictive Trade
Practices Act, 1969 (MRTPCA), as had
been done in the past, a number of times,
would not suffice. After going through
various motions, finally, on the
recommendation of the Raghvan
Committee report, the Act was enacted on
13th
January, 2003. The second period
begins from 13th
January, 2003 till
20th
May, 2009. In this period, for various
reasons relating to the background of
litigation, the Act had to be amended in
Sept 2007 so as to fulfil the assurances
given to Hon’ble Supreme Court by the
Government. This ensured that the matter
was not litigated any further. Thereafter,
till 28th
February, 2009, the CCI functioned
as a one Member body till July, 2008 (not
really a Commission in true legal sense
because of the stipulation, in section 8 of
the Act that the Commission shall consist
of one Chairperson and at least two
Members appointed under the Act). From
July, 2008 till 28th
February, 2009, the CCI
only consisted of staff and no Member /
Chairperson was in office. On
28th
February, 2009, one Chairperson and
one Member entered office and, soon
thereafter, on 1st
March, 2009, the second
Member entered the office and the CCI was
duly constituted for the first time. The duly
constituted CCI had a look at the
preparatory material prepared by the
earlier formations and, after due
deliberations, approved the
implementing regulations for various
aspects of the functioning of the CCI.
Simultaneously, the Government also
brought enforcement provisions relating
to the anti-competitive agreements /
cartels and abuse of dominant position
(Sections 3 and 4 of the Act) with effect
from 20th
May, 2009. That is the beginning
of the competition law enforcement in
India—albeit partially. The third period
94
3. B-332012]
COMPETITION LAW REPORTS ™ FEBRUARY, 2012
began from 20th
May, 2009. In this period
the duly constituted CCI started enforcing
the provisions relating to anticompetitive
agreements/cartels and abuse of
dominant position of the Act.
In this third period, the efforts to bring
into force the provisions relating to
regulations of combinations by the CCI
and the Government on the one hand and
equally strong efforts/manoeuvres to stall
them by a wide spectrum of business and
other interest groups, represented through
various formations, continued till as late
as 4th
March, 2011 when the notification
bringing the provisions relating to
regulation of combinations into force, with
effect from 1st
June, 2011, was issued. Not
that the opposition to the provisions
relating to merger control was particularly
subdued even earlier but, after the part
enforcement of the competition law
provisions, it certainly became much more
vociferous. It was nearly at its peak in this
third period ending on 1st
June, 2011. This
was a period of mad cacophony.
Everyone, who was someone, or who
could make him / her heard as someone
before those who matter, questioned the
credibility of the CCI on whichever count
he or she considered feasible. The alleged
reasons, of lack of faith in CCI to handle
review of combinations, ranged from lack
of capacity, resources of material kind,
“sarkari”(read “bureaucratic”) attitude,
the unduly long period of clearance
provided under the law, high fees and
what have you. Actually, some efforts to
get it postponed, preferably indefinitely,
after 4th
March, 2011 and before
1st
June, 2011 also continued in the name
of lack of preparedness as the finalisation
of the implementing regulations by the
CCI took some time not entirely because
of the fault of CCI. The fourth period of
full enforcement of competition law in
India began from 1st
June, 2011.
Surprisingly, in contrast, now after a
passage of more than seven months there
is an unusual lull. Interestingly, it is not
the proverbial lull before the storm but
Combination Review in India: A Mid-year Review (Part I)
95
the lull after the storm. For one who has
been at the near centre of this storm before
the lull, nothing can be more surprising
but still satisfying. None of those who
were a part of the chorus, or anyone else
for that matter, is admitting that those
fears and misgivings were wrong, that
the CCI is doing its job very diligently or
whatever. In comparison, the
international press-legal press or
otherwise has been highly appreciative
of the spectacular performance of the CCI
in this area of activity.
If we recall, the concerns of the business,
voiced on different platforms, at various
times were, broadly, as under:
• Mandatory pre-merger notification
is burdensome. Voluntary regime
preferred by industry
• Asset/turnover thresholds are too
low
• The time period for review,210
days, is too long
• No minimum thresholds for
acquisition of shares/assets.
Burden on big enterprises.
• Concept of “group” consisting of
enterprises puts additional burden
on big enterprises
• Likely adverse affect on the growth
of a developing economy by
regulating combinations
• Separate higher thresholds for
telecom, infrastructure, energy,
banking and insurance sectors
• Regulation of combinations be
taken up by CCI only after gaining
experience of several years
• Regulating acquisitions would
deny Indian business the
opportunity to take-over and
reviving failing enterprises
Indeed a look at the track record of CCI in
treading this forbidden territory has been
such that none of the fears has come true.
The following table summarises the salient
aspects of the approvals of combinations
by CCI as of the time of writing:
6. Competition Law ReportsB-36 [Vol. 1
COMPETITION LAW REPORTS ™ FEBRUARY, 2012
The above table analyses the
combinations handled by the CCI as of
the time of this writing. In total, 19
combinations have been approved by
CCI, spread over a period of a little over
seven months from 1st
June, 2011 to
2nd
February, 2012. In the combinations
handled so far by the CCI out of a total
19 matters, 10 cases have involved
intra-group mergers/amalgamations.
In all these cases, the mergers/
amalgamation did not change the control
dynamics of the enterprises on a macro
level except the contours of control
undergoing some change. Had the
notification issued by the Government
on 4th
Mach, 2011,1
as amended later on
27th
May, 2011,2
included the mergers
and amalgamations along with the
acquisitions, perhaps, many of these
notifications would not have come before
the CCI.
Nine cases of notifications, other than
the intra-group combinations, for an
economy of the size of India are not too
many notwithstanding the not too bright
patch which the global economy, in
general, is going through. All the
combinations, including the 10 cases of
intra-group combinations have been
approved by the CCI. This is not to say
that if the situation so requires the CCI
would shy away from asking the parties
to the combinations for modifications
under Section 31(3) of the Act or even
block the combinations under
Section 31(2) of the Act on a case to case
basis as and when the situation so
demands. Nonetheless, the track record,
so far, brings one inference in bold relief
and that is that the CCI is not trigger
happy as would have been the normal
impression if one were to believe the fears
expressed before the provisions relating
to merger control became a reality in
India.
On an average, in the cases of regulations
of combinations approved by the CCI so
far, the time to approve a combination
under Section 31 of the Act has been a
mere 14 (or 14.36 to be exact) calendar
days. This would translate to a little less
than 10 working days if we keep even
the list of scheduled holidays in India in
mind leaving aside the frequent
disruptions of work on many other
counts. This is indeed a rare feat for a
new competition agency.
For a comparison of the numbers, in
nearly the same period, from June 2011
to January, 2012, the EU DG Competition
handled 225 cases. Let us not forget that,
in addition to EU DG Comp, the national
competition authorities, within the
European Union, also clear mergers.
Comparatively, a similar economy, South
Africa Competition Commission passed
judgement in 41 cases in the month of
January, 2012 alone. In the United States
of America, being a different procedure
as no approval order is required to be
passed, the comparison would not be
appropriate. Although the figures of
merger filings in USA for the same period
are much higher bur these are not being
discussed for lack of comparative merit.
These numbers do not indicate that the
capacity of CCI to handle work is less
but the fact that, through various means,
the work load of the CCI under this head
been reduced to a bare minimum because
of the forceful effects of the noise in the
third phase of evolution of competition
law in India as discussed in the
preceding paragraphs.
The performance of the CCI, so far, shows
that neither the requirement of
mandatory pre-merger notification has
dissuaded any business from going
ahead with any transaction nor has any
transaction been killed as a result of the
feared immature, inept and
1 Notification SO 482(E) (No. 412) dated 4th March, 2011
2 Notification SO 1218(E) (Corrigendum No. 1017)
98