CCI DISMISSES ALLEGATIONS OF BIDRIGGING AGAINST COAL MINE COMPANIES
The CCI, vide an order dated 31 July 2025, dismissed the allegations of cartelisation and bidrigging by various companies associated with the RP-Sanjiv Goenka Group, Adani Group, and others during the 2015 and 2023 coal mine auctions run by the Government of India. It was alleged that the entities were colluding to suppress competition, impacting the competitive integrity of the coal block allocation process. Allegations included cartel behaviour, bid suppression, use of common infrastructure for bidding, and financial connections between participants.
The CCI explicitly relied upon Rajasthan Cylinders and Containers Ltd. and Others v. Union of India and Others, and underscored the necessity to consider the views of the procurer in cases alleging cartelisation. The CCI observed that the Ministry of Coal (MoC), as the procurer, had expressed no apprehension or concern regarding cartelisation or bid-rigging in any of the challenged auction tranches. The MoC confirmed that auctions were conducted transparently with safeguards against anticompetitive practices.
Furthermore, the Commission noted that the evidence placed on record regarding the 16th tranche auctions was merely indirect and circumstantial, primarily involving financial dealings and shared personnel between certain entities. There was no direct evidence to substantiate allegations of cartelisation or bid-rigging among the participants.
Consequently, the CCI dismissed the complaint.
CCI ORDERS PROBE AGAINST ASIAN PAINTS ON GRASIM COMPLAINT
On 1 July 2025, the CCI passed a prima facie order, directing the Director General to investigate allegations by Grasim Industries (Birla Paints Division) against Asian Paints Ltd (APL). The complaint alleged that APL had abused its dominant position in the market for decorative paints in India.
Grasim Industries alleged that APL had engaged in a series of anti-competitive practices, including:
- Imposition of de facto exclusivity on dealers using threats such as reduced credit limits, increased sales targets, and withdrawal of benefits if they stocked competing brands, especially Birla Opus Paints;
- Forcing dealers to return or not install Grasim's advanced tinting machines, offering arbitrary incentives, such as discounts or travel incentives, conditional upon exclusivity; and
- Coercion of third-party suppliers, landlords, and logistics providers to not work with Grasim.
The CCI confirmed the relevant market as the market for the manufacture and sale of decorative paints in the organised sector in India, consistent with the prior precedent set out in Case No. 36 of 2019. Based on market share, resources, dealer network, and the structure of the market, CCI found APL to be prima facie dominant in this market. After a perusal of the evidence submitted by Grasim including, inter alia, dealer surveys, affidavits, lists of returned tinting machines, and examples of pressure exerted on third parties, the CCI held that APL had prima facie contravened the provisions of the Act by abusing its dominant position in the relevant market by imposition of unfair conditions, denial of market access, and imposition of supplementary obligations.
APL challenged the prima facie order of the CCI before the Bombay High Court, and is currently pending adjudication.
CCI PENALISES FPBAI FOR ANTICOMPETITIVE CONDUCT IN BOOK TRADE
Vide an order dated 1 July 2025, the CCI issued a significant decision against the Federation of Publishers' and Booksellers' Association in India (FPBAI), finding it guilty of multiple anti-competitive practices in the market for books and journals supply in India.
The CCI found that FPBAI:
- regularly published conversion rates for foreign currencies, and set them 3–5% above prevailing bank rates. These rates were widely applied within the industry, limiting price competition and raising prices for imports of books and journals;
- stipulated terms regarding credit period, interest rates on delayed payments, and pricing verification through its circulars, which became industry norms and restricted the commercial autonomy of members; and
- circulated lists of "approved vendors" and issued advisories to institutions to purchase only from FPBAI members, resulting in effective denial of market access to non-members.
These practices created substantial entry barriers, hampered competition, and reinforced FPBAI's market influence, resulting in a presumed appreciable adverse effect on competition in India.
The CCI imposed a penalty of ₹2.56 lakh on FPBAI along with several individual penalties. While FPBAI and the individuals were directed to cease-anddesist from the anti-competitive practices, they were also directed to take additional compliance measures requiring FPBAI to widely circulate the CCI order, withdraw all legacy circulars/advisories on currency rates, discount control, commercial terms, and vendor lists from all relevant platforms, and organise regular competition law awareness programmes.
CCI IMPOSES PENALTY ON CARLYLE FOR FAILURE TO DISCLOSE MATERIAL OVERLAPS IN RELATION TO ITS GREEN CHANNEL FILING
CCI, vide an order dated 26 June 2025, initiated proceedings against Carlyle entities CA Plume Investments and Bequest Inc. (jointly called Acquirers) for failing to disclosure certain vertical/ complementary overlaps amongst the affiliates of the Acquirers and Quest Global Services Pte. Ltd.(Quest Global). The transaction entails acquisition of 23.6% equity stake of Quest Global by the Acquirers and was initially notified under the Green Channel route.
After a detailed assessment and subsequent clarifications, the CCI noted that there existed vertical and complementary overlaps between the product engineering services provided by Quest Global, which can potentially be availed of by the portfolio entities of the Acquirers., contrary to the Green Channel declaration made at the time of notification.
The CCI decided to impose a penalty of INR 4 lakh on the Acquirers and also directed them to refile the notice.
CCI APPROVES KANDHARI GLOBAL'S ACQUISITION OF COCA-COLA BOTTLING OPERATIONS IN GUJARAT AND DIU
On 22 April 2025, the CCI approved the proposed acquisition by Kandhari Global Beverages Pvt. Ltd. of the business of preparing, packaging, supplying, and distributing non-alcoholic beverages (NABs) in North Gujarat and the Union Territory of Diu from Hindustan Coca-Cola Beverages Pvt. Ltd.
The Acquirer (Kandhari Group) and Target Business (the bottling business in North Gujarat and Diu) both operate as authorised bottlers for Coca Cola and supply NABs, including carbonated soft drinks (CSDs) and non-CSDs, in overlapping regions.
Without any apparent discussion on how the CCI arrived at 'West India' as the relevant geographical market or which states are included in this definition, the CCI noted horizontal overlaps in the market for NABs in West India, as well as its CSD and non-CSD segments.
The CCI noted that the combined market share postacquisition would be in the 10-15% range for NABs and CSDs, and 5-10% for non-CSDs in the relevant markets, with major competitors like PepsiCo, Parle Agro, and Red Bull remaining significant players.
Therefore, the Commission found that the transaction is not likely to cause any appreciable adverse effect on competition in any plausible relevant market in India and thus unconditionally approved the combination.
CCI ACCORDS CONDITIONAL APPROVAL TO BHARAT FORGE'S ACQUISITION OF AAM INDIA MANUFACTURING
The CCI, vide order dated 22 April 2025, conditionally approved the acquisition of 100% shareholding of AAM India Manufacturing Corporation Private Limited (AAM), including related assembly lines from AAM Auto Component (India) by Bharat Forge Limited (BFL).
The CCI prima facie noted that the proposed combination is likely to raise competition concerns in the horizontally overlapping market for the supply of axles for commercial vehicles (CVs) in India, further segmented into axles for light CVs and medium/heavy CVs.
In terms of likely concerns in the vertical overlapping markets, CCI noted that parties have an existing vertical relationship for the supply of axles for CVs in India and a potential vertical relationship as the forced axle sub-components manufactured and sold by BFL can be utilised by AAMCPL to assemble axles for CVs.
Lastly, CCI also noted that BFL's affiliate JVs supply drum brakes in the open market, which is procured by AAMCPL on a need basis and to that extent, parties exhibit a potential complementary overlap.
While assessing the likely impact of the proposed combination in the market, CCI noted that the parties are the largest players in the Axle CV Market and its sub-segmented for the MHCV Market. The market is highly concentrated, with a meagre 5% or less held by other small players. The CCI inter alia also noted that the proposed transaction will likely reduce the choices for original equipment manufacturers to source axles and shall likely depend on in-house or other equipment suppliers, reduce the incentive of BFL's JVs to compete in price with AAM and thus can likely increase the price in the market.
To address these concerns, BFL proposed certain behavioural remedies, inter alia: (a) Maintenance of separate brand identity, independent management, and sales functions between BFL's group entities and AAM, (b) Strict ring-fencing of competitively sensitive business information, (c) Restriction on any interference in the management of BFL's affiliate JVs by BFL group and ensuring that the affiliate JVs function independently on their own management.
In terms of the existing supply agreement and potential vertical relationship for the supply of axel and its forged sub-components, CCI noted that though the market share of parties is in the range of 15-20%, the market has the presence of other prominent players therefore is not likely to raise any competition concerns.
Lastly, with regards to the potential competition concerns arising out of the supply of drum brakes by BFL's affiliate to AAMCPL, CCI noted that though AAMCPL and BFL's affiliate have significant market shares in the Axle and Drum Brakes in the CV and MHCV segment, the supply of drum brakes is only on a need basis, and market has the presence of other significant competitors.
Therefore, considering the above commitments, CCI conditionally approved the proposed combination subject to compliance with the voluntary commitments offered by the parties.
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