Amazon questions CCI move
THE ASIAN AGE| CCI: Amazon on Friday questioned the Competition Commission’s decision to keep in abeyance the two-year-old approval for the e-commerce major’s deal with Future Coupons. The e-commerce major argued that the regulator did not have the power to keep its own order in abeyance. Amazon made the submission before the National Company Law Appellate Tribunal (NCLAT), which is hearing its plea against the decision of the Competition Commission of India (CCI). It wants an interim stay on the CCI decision. The CCI had asked Amazon to file a fresh form regarding the deal.
Cabinet allows up to 20% FDI in IPO-bound LIC under automatic route
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved a proposal to allow foreign direct investment (FDI) up to 20 per cent in Life Insurance Corporation through the automatic route. The decision is expected to open doors for foreign investors who are keen to participate in the upcoming initial public offering (IPO) of LIC scheduled for next month, considered to be India’s largest public offering.
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Court exempts medical emergency vehicles from night travel ban
THE NEW INDIAN EXPRESS| Madras High Court: Following intense arguments by petitioners and the Erode district administration, the Madras High Court (HC) has exempted vehicles for medical emergencies from the travel ban at night on the Bannari-Karapallam stretch of the Coimbatore-Bengaluru NH that runs through the Sathyamangalam Tiger Reserve (STR).
The first bench of Chief Justice Munishwar Nath Bhandari and Justice D Bharatha Chakravarthy, on Thursday, granted the relief by partially modifying its February-8 order. The bench directed the authorities concerned to install CCTV cameras at the entry and exit points of the 27-km stretch and wanted them to clarify whether CCTV cameras can be installed at every 5 km on the crucial road connecting Tamil Nadu and Karnataka.
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