New Delhi:

China’s Xiaomi has asked India’s antitrust body to recall its report that found the company and Walmart’s Flipkart breached competition laws, arguing it contains commercial secrets, two people familiar with the matter said.

Any recall of the Competition Commission of India (CCI) report could delay its antitrust investigation, which began in 2021. In a rare move in August, the commission recalled an antitrust report on Apple after the company similarly complained commercial secrets were disclosed.

Xiaomi has told the commission in an application the investigation report on Flipkart contains sensitive business data on the smartphone company which was supposed to be redacted when the document was shared with parties in the case, said the two sources familiar with the matter.

One of Xiaomi’s concerns with the Flipkart report is that it contains its model-wise sales which is sensitive information, one of the sources said.

Xiaomi, Flipkart and the competition watchdog did not immediately respond to Reuters queries.

The commission does not make investigation reports public and they are only shared with parties to the case. A recall requires parties to return the report which then undergoes further review for redactions.

The watchdog has found that e-commerce giants Amazon and Flipkart gave preference to select sellers and prioritised certain listings, and also colluded with companies like Xiaomi to launch phones exclusively on their websites, Reuters reported this month citing the August reports on Flipkart and Amazon.

Counterpoint Research data shows that South Korea’s Samsung and China’s Xiaomi are two of India’s biggest smartphone players, together holding an almost 36% market share, with China’s Vivo on 19%.

Xiaomi is not concerned with data in the report made on Amazon, in which the investigators also said the two companies colluded on online sales in breach of antitrust laws, said both the sources, who declined to be named as the matter is confidential.

It wants the commission to ask parties to return the report and destroy any copies, allowing the watchdog to further redact the sensitive information and reshare the reports, said the first source.

The watchdog took a similar step with its Apple report, which found the U.S. company exploited its dominant position in the market for app stores on its iOS operating system. The company denies wrongdoing.

The commission’s Flipkart report said the Indian units of Samsung, Xiaomi, Motorola, Vivo, Lenovo and Realme indulged in the practice of exclusive product launches on Flipkart’s shopping website, saying this was “against free and fair competition” and “against the interest of consumers”.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

New Delhi:

Fair trade regulator Competition Commission of India (CCI) cleared Adani Power’s proposed acquisition of Lanco Amarkantak Power.

Adani Power proposed to acquire 100% share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC), according to a release.

Insolvent Lanco Amarkantak Power is engaged in the business of thermal power generation.

On March 5, Adani Power announced it received the creditors’ approval for the resolution plan to acquire insolvent Lanco Amarkantak Power.

“The proposed transaction does not result in an appreciable adverse effect on competition in any plausible relevant market in India,” CCI said.

Adani Power is engaged in the business of thermal power generation in India.

In another release, CCI said it has cleared the proposals of purchasing stakes in PharmEasy by various entities, including Ranjan Pai’s MEMG Family Office LLP and 360 ONE Group.

API Holdings, through its subsidiaries, is in the business of providing healthcare services through the online e-commerce marketplace PharmEasy.

The proposed transactions envisage the subscription of class B compulsorily convertible preference shares of the Target (API Holdings Ltd) by the acquirers (MEMG LLP and 360 ONE Group), as per the release.

360 One is a Sebi-registered Alternative Investment Fund. It is managed by its investment manager, AML. The latter provides investment management services to schemes of 360 ONE Mutual Fund and alternative investment funds of the 360 ONE Group.

MEMG Family Office LLP (MEMG LLP) is engaged in the provision of consulting and advisory services to customers in India and ultimately belongs to the Pai Family Group.

Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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