New Delhi:

In a respite for Mark Zuckerberg-run Meta, the National Company Law Appellate Tribunal (NCLAT) on Thursday stayed the five-year ban imposed by the Competition Commission of India (CCI) on WhatsApp for its data-sharing practices.

The NCLAT bench, led by Justice Ashok Bhushan, said such a ban could disrupt WhatsApp’s business model in the country. WhatsApp has more than 500 million monthly active users in India.

The appellate tribunal also directed Meta to deposit 50 per cent of the Rs 213 core penalty imposed by the CCI, within two weeks.

The social media giant has already paid 25 per cent of the fine.

Last week, the NCLAT had reserved its order on a plea by Meta and WhatsApp seeking a stay on the CCI order that imposed a penalty of Rs 213 crore for “abuse of dominant position”.

According to the tribunal, the upcoming data protection law in India could address concerns related to data privacy.

WhatsApp’s 2021 Privacy Policy allows for user data to be shared with group cos like Meta, and Insta without an “opt out” option.

Earlier this month, social media platform Meta moved the NCLAT against the CCI order. In November last year, the competition watchdog directed WhatsApp to not share user data collected on its platform with other Meta products or companies for advertising purposes for a period of five years, along with imposing a penalty of Rs 213.14 crore on Meta for allegedly abusing its dominant position.

Meta informed the NCLAT that the CCI order has wide ramifications for the industry as a whole and therefore, an urgent hearing in the matter will be required.

Last year, after the CCI directed WhatsApp not to share user data collected on its platform with other Meta products or companies for advertising purposes for a period of five years, the social media platform said it disagreed with the CCI’s decision and planned to appeal.

The CCI began a probe in March 2021 into WhatsApp’s revised privacy policy, which enabled mandatory data sharing with Facebook (now Meta) and its companies, along with an expanded scope of data collection.

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

A view of the BCCI headquarters in Mumbai. The BCCI told the National Company Law Tribunal (NCLT), Bengaluru that it would move an application for withdrawal of its insolvency plea against ed-tech firm Byju’s.
| Photo Credit: The Hindu

The Board of Control for Cricket in India (BCCI) on Tuesday (November 12, 2024) told the National Company Law Tribunal (NCLT), Bengaluru that it would move an application for withdrawal of its insolvency plea against ed-tech firm Byju’s.

Last month, Supreme Court had set aside a judgement of the National Company Law Appellate Tribunal (NCLAT) allowing a ₹158 crore settlement between ed-tech firm Byju’s with the Board of Control for Cricket in India (BCCI), noting that there was “grave deviation from procedure” in bringing the case to the NCLAT itself.

The NCLAT had set aside the insolvency proceedings against Byju’s parent Think & Learn Private Limited. Byju’s U.S.-based creditor Glas Trust Company LLC had moved the apex Court against the NCLAT verdict.

The settlement was offered by Riju Raveendran, brother of Byju Raveendran from his personal assets.

On Tuesday (November 12, 2024), BCCI told the NCLT that it has communicated to Byju’s resolution professional to move an application for withdrawal of the insolvency plea and it would be done in a couple of days.

Meanwhile, Glas Trust sought for removal of the resolution professional and re-constitution of committee of creditors and its views also be heard as per the directions of the apex court.

NCLT directed all parties to make their pleadings within the next three days and posted the case for hearing on Monday.

The National Company Law Appellate Tribunal (NCLAT), Chennai on Friday (September 6, 2024) ordered status quo to be maintained as on date in the matter of Corporate Insolvency Resolution Process of Coastal Energen Private Limited, based on an appeal filed against the approval of a ₹3,335.52 crore (excluding resolution process cost) resolution plan submitted by Dickey Alternative Investment Trust and Adani Power Limited consortium for the company.

NCLAT Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain directed the resolution professional Radhakrishnan Dharmarajan to run the Coastal Energen plant and maintain the resolution amount in a separate account until the case is decided on merits.

The NCLAT has posted the case for further hearing on September 18, 2024.

Interestingly, the development comes even as the Dickey Alternative Investment Trust (DAIT) and Adani Power consortium have already implemented the resolution plan and taken over Coastal Energen.

Last month, the National Company Law Tribunal (NCLT) Chennai gave the nod for Dickey Alternative Investment Trust and Adani Power resolution plan for Coastal Energen, which owns and operates an imported coal-based thermal power plant at Tuticorin, Tamil Nadu. As per the approved resolution plan, secured lenders of Coastal Energen will get about ₹3,330 crore, which is 28.52% of the admitted claims of about ₹11,677 crore.

Against the NCLT nod, Ahmed Buhari, erstwhile director of Coastal Energen, moved an appeal before the NCLAT, alleging that the due process was not followed in picking the DAIT and Adani Power consortium as the successful bidder under the insolvency and bankruptcy process.

NCLT admitted Coastal Energen for the corporate insolvency resolution process via an order dated February 4, 2022, following a case filed by the State Bank of India, and had appointed Radhakrishnan Dharmarajan as the resolution professional.

National Company Law Appellate Tribunal (NCLAT) Chennai Judicial Member Justice Sharad Kumar Sharma on July 29 refused to hear an appeal by Byju Raveendran against the insolvency proceedings ordered against Think & Learn Private Limited, which runs Byju’s, citing that he has appeared for Board of Control for Cricket in India (BCCI) as senior counsel in number of cases.

He directed for the matter to be placed before NCLAT chairperson for nomination of appropriate Bench for hearing the case.

Also read: Byju’s woes: A timeline of the Indian edutech giant’s troubles at home and abroad

The National Company Law Tribunal (NCLT), Bengaluru, had ordered insolvency proceedings against Think & Learn Private Limited. The development came after the Board of Control for Cricket in India (BCCI) filed a petition claiming a default of ₹159 crore.

The NCLT had appointed Pankaj Srivastava as an interim resolution professional, who will oversee the management of Byju’s and power of board of directors was suspended for now.

Byju Raveendran, suspended director, promoter, & shareholder of Think & Learn Private Limited had moved NCLAT against the insolvency proceedings order. At the hearing on July 29, Justice Sharad Kumar Sharma said he is not proposing to take up the matter, as he has been appearing as senior counsel for BCCI. “So, I am refusing to hear the matter,” he said.

“I will not venture into this. I have been regular counsel for the BCCI in a number of cases”, Justice Sharad Kumar Sharma said and directed the case to be placed before NCLAT Chairperson for nomination of an appropriate Bench.

National Company Law Appellate Tribunal (NCLAT) Chennai Judicial Member Justice Sharad Kumar Sharma on July 29 recused himself from hearing an appeal by Byju Raveendran against the insolvency proceedings ordered against Think & Learn Private Limited, which runs Byju’s, citing that he has appeared for Board of Control for Cricket in India (BCCI) as senior counsel in number of cases.

He directed for the matter to be placed before NCLAT chairperson for nomination of appropriate Bench for hearing the case.

Also read: Byju’s woes: A timeline of the Indian edutech giant’s troubles at home and abroad

The National Company Law Tribunal (NCLT), Bengaluru, had ordered insolvency proceedings against Think & Learn Private Limited. The development came after the Board of Control for Cricket in India (BCCI) filed a petition claiming a default of ₹159 crore.

The NCLT had appointed Pankaj Srivastava as an interim resolution professional, who will oversee the management of Byju’s and power of board of directors was suspended for now.

Byju Raveendran, suspended director, promoter, & shareholder of Think & Learn Private Limited had moved NCLAT against the insolvency proceedings order. At the hearing on July 29, Justice Sharad Kumar Sharma said he is not proposing to take up the matter, as he has been appearing as senior counsel for BCCI. “So, I can’t hear the matter,” he said.

“I will not venture into this. I have been regular counsel for the BCCI in a number of cases”, Justice Sharad Kumar Sharma said and directed the case to be placed before NCLAT Chairperson for nomination of an appropriate Bench.

Ashok Bhushan. File
| Photo Credit: PTI

Effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent to deal with complex challenges, National Company Law Appellate Tribunal (NCLAT) chairperson Ashok Bhushan said on October 12.

Emphasising the importance of having free and fair competition in the market place, he also said there is a need for robust mechanism to regulate digital markets.

He was delivering the keynote address at the eighth BRICS International Competition Conference 2023 in the national capital. “Strong anti-trust enforcement is an essential element of the overall public policy design governing the companies,” he said.

Further, he noted that an effective cooperation among the BRICS nations in striking the right balance between promoting sustainability and competition is pertinent in order to deal with complex challenges.

More than 600 delegates are expected to participate in the conference that concludes on October 13. Last time, this conference happened in India in 2013. According to the Chairperson of the National Company Law Appellate Tribunal (NCLAT), free and fair competition is a key pillar for the market economy.

“Incorporation of sustainability into competition law had the potential to stimulate innovation, development of cleaner technologies, renewable energy sources and sustainable solutions across various industries,” he noted.