A writ petition has been filed against the Competition Commission of India (CCI) and Securities and Exchange Board of India (SEBI) by the South Chemists & Distributors Association (SCDA) in the Delhi High Court against the failure of CCI and SEBI to respond to SCDA’s concerns around PharmEasy’s parent company — API Holdings. The Delhi HC has now issued notices in the matter and directed CCI and SEBI to be present at the next hearing scheduled for January 13, 2022, according to a press release by SCDA. The Union government, API Holdings, and Docon Technologies have also been made respondents in the case, according to a copy of the petition reviewed by MediaNama. Why it matters: Litigation can throw a spanner in the works of PharmEasy’s IPO which awaits SEBI’s green light. The petition also highlights serious issues, which if true, can scuttle PharmEasy’s plans to go public altogether. Prayers of the petition The traders’ body is requesting Delhi HC to issue the following orders: Direct CCI to initiate an inquiry into API Holdings acquiring a controlling stake in Thyrocare Technologies Ltd. through Docon Technologies Pvt. Ltd. under the Competition Act, 2002. Call on SEBI to reject the Draft Red Herring Prospectus (DRHP) filed by API Holdings under Section 11A of the SEBI Act, 1992. What are the grounds on which SCDA is making its case? The traders’ body revealed that it is approaching Delhi HC to protect the wealth of investors. Here is a summary of reasons which compelled SCDA…
- India’s central bank launches pilot of e-Rupee for retail segment: Here’s everything to know November 29, 2022
- Event Announcement: Reworking the Data Protection Bill, Delhi, 8th Dec #Ad November 29, 2022
- Telegram Discloses Names, Numbers, IP Addresses of Alleged Copyright Infringers to Delhi HC November 29, 2022
- Nashik residents question the linking of Aadhaar with Voter ID November 29, 2022
- What can we learn about crypto scams from WazirX’s latest transparency report? November 29, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...