Wednesday, April 24, 2024
Outlook India
Outlook Business


The proposed combination envisages the acquisition of an additional 4.04 per cent shareholding of Acko Technology and Services Private Limited (Acko Tech) by General Atlantic Singapore ACK Pte. Ltd, according to an official release

Separately, the regulator has cleared the acquisition of securities of a newly incorporated entity of Mahindra & Mahindra Ltd by the World Bank Group arm IFC

This move is expected to provide competition to Google, which currently dominates the Indian app store market with over 97 per cent market share

Through a recent blog, Google announced that it is implementing User Choice Billing (UCB) System from April, 26 2023, wherein Google will take 11-26 per cent of revenue earned by Indian Start-ups

OEMs also have to sign Anti Fragmentation Agreement (AFA) which required OEMs to observe baseline compatibility standards. Google also signed Revenue Sharing Agreement (RSA) with OEMs

The NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member Alok Shrivastava also done some modifications to the CCI order

Last week, Lenskart announced that it has signed definitive documents for a $500 million investment from a wholly-owned subsidiary of ADIA

This ruling was challenged before the National Company Law Appellate Tribunal (NCLAT), which is an appellate authority over the orders passed by the CCI

The tech giant also raised questions over why the Competition Commission of India found pre-installation of Google apps anti-competitive when it previously noted users wanted them

The representation by OYO alleges that FHRAI's actions are detrimental to small hotel owners