Dismisses 'dominance abuse' complaint alleging threat against trademark use, 'purely trademark dispute'
CCI dismisses fire safety equipments' trader's ('informant') complaint against manufacturer of fire safety equipments ('OP', Opposite Party) alleging threats by OP to restrain from manufacturing fire safety equipment under trademark "AGNI Security Devices"; Notes informant's failure to produce any cogent material to highlight imposition of any unreasonable conditions on him; Also observes that OP was the registered owner of trademark 'Agni' and informant had also filed an application before Registrar of Trademarks for registration of his tradename and logo, thus states that "issue involved herein is purely a trademark dispute and does not raise any competition concern":CCI
Approves entire share-acquisition by Barings in CMS(India), observes no horizontal & vertical overlap
CCI approves proposed combination relating to acquisition of entire share capital of Indian unlisted public co., CMS Info Systems Limited ('CMS') by Singapore investment fund, Sion Investment Holdings Pte. Limited ('Sion'); Observes that Sion is an investment vehicle and part of Baring Private Equity Asia (a private equity fund), while, CMS and its subsidiaries are engaged in ATM services which include cash replenishment in ATMs, bank automation etc; Notes that since none of the portfolio companies of Baring group are engaged in any business in which CMS and its subsidiaries are operating in India, there are no horizontal overlaps between parties; Also observes absence of any vertical relationship between any of the portfolio companies and CMS and/or any of its subsidiaries accordingly concludes that the proposed combination is not likely to have an appreciable adverse effect on competition in India:CCI
CIT Vs Muthoot Financiers
PFA
S. 269SS: Transaction of loan between a firm and its partner does not attract s. 269SS. If other High Courts have taken a consistent view, that should be followed even if opposite view is possible
Transaction effected between a firm and its partners cannot partake the colour of loan or deposit and as such, Section 269-SS nor Section 271-D of the Act would come into play Read more of this post
Chakrabarty Medical Centre
PFA
Property introduced by a partner into firm becomes the asset of the firm even if there is no registered deed. Though the asset is held by the firm as a depreciable asset and though the investment in s. 54EC bonds is made in the names of the partners, the firm is eligible for s. 54EC exemption
Under s. 239 of the Indian Contract Act and s. 14 of the Indian Partnership Act, for the purpose of bringing the separate properties of a partner into the stock of the firm it is not necessary to have recourse to any written document at all, that as soon as a partner intends that his separate properties should become partnership properties and they are treated as such, then by virtue of the provisions of the Contract Act and the Partnership Act, the properties become the properties of the firm and that this result is not prohibited by any provision in the Transfer of Property Act or the Indian Registration Act Read more of this post
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