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India’s Supreme Court rejects Google’s appeal to block Competition Commission order; PhonePe raises $350 mln

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İçerik One Thing Today in Tech tarafından sağlanmıştır. Bölümler, grafikler ve podcast açıklamaları dahil tüm podcast içeriği doğrudan One Thing Today in Tech veya podcast platform ortağı tarafından yüklenir ve sağlanır. Birinin telif hakkıyla korunan çalışmanızı izniniz olmadan kullandığını düşünüyorsanız burada https://tr.player.fm/legal özetlenen süreci takip edebilirsiniz.

India’s Supreme Court yesterday rejected Google’s ask that an order by the Competition Commission imposing a fine and changes to its market practices with respect to Android software be stayed. Google had approached the top court after the National Company Law Appellate Tribunal, earlier this month, had refused to stay the Competition Commission’s order while it heard the matter. Also in this brief, TCS wins an order from Bombardier. And PhonePe is now privately valued at $12 billion, after a new investment from General Atlantic.

Notes:

India’s Supreme Court yesterday rejected Google’s ask that an order by the Competition Commission imposing a fine and changes to its market practices be stayed.

Google had approached the top court after the National Company Law Appellate Tribunal, earlier this month, had refused to stay the Competition Commission’s order while it heard the matter.

The Competition Commission of India, on Oct. 20, imposed a penalty of Rs. 1337.76 crore ($162 million) on Google for abusing its dominant position in multiple markets in the Android Mobile device ecosystem, apart from issuing a cease-and-desist order.

The value of the fine is provisional and based on data including Google’s revenue in the Indian market, the Competition Commission said in its statement. However, the fine is a landmark decision that puts India alongside the EU in finding that Google has consistently tried and succeeded in eliminating competition using its market dominance.

The Commission, which has been investigating Google’s market practices since 2019, also directed Google to modify its conduct within a defined timeline, according to a statement on the competition authority’s website.

The Commission found that Google enforced multiple restrictive agreements with mobile device manufacturers that “guaranteed that distribution channels for competing search services are altogether eliminated by prohibiting OEMs from offering devices based on Android forks.”

The Competition Commission had also ordered Google to comply with 10 different measures. Among them, Google must ensure that OEMs are not restricted from developing and selling their version of Android on their devices. And Google must ensure that consumers are easily able to uninstall its pre-installed proprietary app.

With respect to yesterday’s Supreme Court order, “This is a landmark decision in the history of competition law jurisprudence in India and globally,” Naval Chopra, a partner specialising in competition law practice at Shardul Amarchand Mangaldas, a prominent Indian law firm, said in an email.

The National Company Law Appellate Tribunal is set to hear arguments from Google and the CCI on February 13, before it makes a final decision on the Commission’s order.

Tata Consultancy Services has won an order from aircraft and defence manufacturer Bombardier, to upgrade its IT systems using SAP’s business operations management software. The company didn’t provide details on the value of the contract. TCS will modernize the aviation company’s systems that support its engineering, manufacturing, aftermarket services and defence activities.

PhonePe, a fintech company in Bengaluru owned by Walmart’s Flipkart, has raised $350 million in funding from private equity company General Atlantic.

The deal was struck at a pre-money valuation of $12 billion, PhonePe said yesterday in a press release

  continue reading

449 bölüm

Artwork
iconPaylaş
 
Manage episode 353000622 series 3372928
İçerik One Thing Today in Tech tarafından sağlanmıştır. Bölümler, grafikler ve podcast açıklamaları dahil tüm podcast içeriği doğrudan One Thing Today in Tech veya podcast platform ortağı tarafından yüklenir ve sağlanır. Birinin telif hakkıyla korunan çalışmanızı izniniz olmadan kullandığını düşünüyorsanız burada https://tr.player.fm/legal özetlenen süreci takip edebilirsiniz.

India’s Supreme Court yesterday rejected Google’s ask that an order by the Competition Commission imposing a fine and changes to its market practices with respect to Android software be stayed. Google had approached the top court after the National Company Law Appellate Tribunal, earlier this month, had refused to stay the Competition Commission’s order while it heard the matter. Also in this brief, TCS wins an order from Bombardier. And PhonePe is now privately valued at $12 billion, after a new investment from General Atlantic.

Notes:

India’s Supreme Court yesterday rejected Google’s ask that an order by the Competition Commission imposing a fine and changes to its market practices be stayed.

Google had approached the top court after the National Company Law Appellate Tribunal, earlier this month, had refused to stay the Competition Commission’s order while it heard the matter.

The Competition Commission of India, on Oct. 20, imposed a penalty of Rs. 1337.76 crore ($162 million) on Google for abusing its dominant position in multiple markets in the Android Mobile device ecosystem, apart from issuing a cease-and-desist order.

The value of the fine is provisional and based on data including Google’s revenue in the Indian market, the Competition Commission said in its statement. However, the fine is a landmark decision that puts India alongside the EU in finding that Google has consistently tried and succeeded in eliminating competition using its market dominance.

The Commission, which has been investigating Google’s market practices since 2019, also directed Google to modify its conduct within a defined timeline, according to a statement on the competition authority’s website.

The Commission found that Google enforced multiple restrictive agreements with mobile device manufacturers that “guaranteed that distribution channels for competing search services are altogether eliminated by prohibiting OEMs from offering devices based on Android forks.”

The Competition Commission had also ordered Google to comply with 10 different measures. Among them, Google must ensure that OEMs are not restricted from developing and selling their version of Android on their devices. And Google must ensure that consumers are easily able to uninstall its pre-installed proprietary app.

With respect to yesterday’s Supreme Court order, “This is a landmark decision in the history of competition law jurisprudence in India and globally,” Naval Chopra, a partner specialising in competition law practice at Shardul Amarchand Mangaldas, a prominent Indian law firm, said in an email.

The National Company Law Appellate Tribunal is set to hear arguments from Google and the CCI on February 13, before it makes a final decision on the Commission’s order.

Tata Consultancy Services has won an order from aircraft and defence manufacturer Bombardier, to upgrade its IT systems using SAP’s business operations management software. The company didn’t provide details on the value of the contract. TCS will modernize the aviation company’s systems that support its engineering, manufacturing, aftermarket services and defence activities.

PhonePe, a fintech company in Bengaluru owned by Walmart’s Flipkart, has raised $350 million in funding from private equity company General Atlantic.

The deal was struck at a pre-money valuation of $12 billion, PhonePe said yesterday in a press release

  continue reading

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