Crypto cartel vpvr
A company facing an antitrust investigation for a particular matter may potentially find every aspect of its business under the scanner, and can ultimately be penalized for a completely different and unrelated issue or issues than what originally triggered the investigation. One can only hope that the judgment is challenged and the Supreme Court narrows, or at the very least clarifies its scope.
Jurisdictional issues yet again In another addition to the ongoing tussle for jurisdiction between the CCI and sectoral regulators, the Bombay High Court in Star India v. Bharti Airtel and ruled that disputes in personam arising from rights and obligations governed by Telecommunications Interconnection Regulations, , are jurisdictional facts that must be settled by the specialized regulator before the CCI can take cognizance of a "refusal to deal" claim under Section 3 4 of the Act.
Significantly, it was also noted that while dealing with a violation of Section 3 4 , the CCI was under an obligation to arrive at a prima facie finding in terms of ascertaining whether there was an appreciable adverse effect on competition as per the factors laid down in Section 19 3 of the Act was caused. As the same had not been referred to by the CCI in its order under Section 26 1 , the impugned order was set aside.
The effect of a settlement between the parties The Bombay High Court vide judgment dated Further, the CCI was asked to close the proceedings pending before them and all previous orders in connection with the case were deemed inoperative. The parties in the matter were all competing container terminals, and the complaint filed by Bharat Mumbai Container Terminal alleged that Nhava Sheva International Container Terminal and Gateway Terminals India were creating entry barriers by colluding on certain terminal charges that were levied at the Jawaharlal Nehru Port.
This verdict of the Bombay High Court marks the first time that proceedings before the CCI have been closed on account of a settlement between the parties. However, the CCI has filed a review petition as it believes that it exercises its jurisdiction in rem with the obligation to curb anti-competitive practices in the market, and hence a settlement between the parties should not affect its ability to proceed with its investigation.
Maruti was also alleged to have appointed 'Mystery Shopping Agencies' to monitor the discounts being offered by its dealers. Based on the evidence available, the CCI observed that prima facie, Maruti implemented a resale price maintenance arrangement with its dealers which appeared to contravene Section 3 4 e of the Act.
This follows a similar order passed by the CCI in penalizing Hyundai Motor India for engaging in conduct amounting to resale price maintenance by controlling the discount levels. It was alleged that KAFF, unhappy with the discounted prices at which their products were being listed on the Snapdeal's online marketplace, issued a caution notice on their website stating that Snapdeal was not an authorized seller of their products and thus, warranties on products bought via the website shall not be honored which amounted to a price restriction in contravention of Section 3 4 e of the Act.
The CCI held that the issuance of the notice stemmed from a genuine concern of counterfeit goods being sold in KAFF's name, further nothing precluded the manufacturers from exercising their right to choose the most efficient distribution channel unless the choice lead to anti-competitive effects, which could not be established in this case. In Vijay Gopal v. The CCI noted that purchase of beverages was not a prerequisite for watching movies at Inox, Coca-Cola's market share was not significant enough to restrict competition and that Pepsi Co had also entered into similar agreements with large number of multiplexes thereby ensuring intense competition between suppliers of non-alcoholic beverages, and finally that there were no exit barriers as the agreement could be terminated by either of the parties by giving a day notice.
Consequently, the CCI held that no violation of the provisions of the Act was made out against the parties as they did not have the potential to cause any appreciable adverse effect on competition. Deviating from its previous practice, the public version of the order redacts the specific details of the cartel conduct, the evidences, and individuals involved, the names of customers, etc.
In Nagrik Chetna Manch v. The CCI observed that the evidence submitted revealed a discernable pattern pointing towards the existence of an agreement or meeting of minds amongst the bidders to collude in the tender process. However, the CCI dismissed allegations pertaining to a violation of Section 3 of the Act, in terms of imposition of an arbitrary and uniform 'Virtual Print Fee' on Indian film producers, made against PVR and three other major multiplexes along with the association, as also put forth a standard non-negotiable revenue sharing agreement which producers were forced to adhere to.
In its observations, the CCI noted that mere parallel conduct was insufficient to establish collusion, in the absence of other evidence. Abuse of Dominance turned out to be a bad year for the new age digital economy companies namely Google, Uber, and MakeMyTrip. In today's day and age where technology driven markets are increasingly gaining importance and contributing heavily to India's economy, the Apex Court has clamped down on predatory pricing practices by popular cab aggregator Uber vide its judgment dated The Supreme Court noted that on the basis of the incentive structure itself which appeared to result in a significant net loss per trip, it appeared that Uber's actions would certainly affect its competitors in the relevant market and that an investigation was merited in this regard.
Now that the CCI has gained more clarity pursuant to the conclusion of its market study on the e-commerce sector, it remains to be seen whether Meru's complaint is viewed in a different light. Google again found itself under the CCI's scanner in relation to its Mobile Application Distribution Agreement which restricted OEMs who wished to develop and sell devices operating on alternate versions of the Android operating system Android forks from pre-installing their proprietary 'must-have' apps such as the Google Play Store.
Echoing the anti-competitive practices found abusive in the record breaking case in Europe , the CCI delineated the relevant market as the "market for licensable smart mobile device operating systems in India". The associate relevant markets defined were the market for application stores for Android, and the market for online general web search services.
The CCI prima facie found Google to be dominant in all the three relevant markets. Marking a significant departure from past practice related to developing markets and new technologies, vide an order passed on Departing from its order approving MMT's acquisition of rival Ibibo in where the market was delineated as the "sale of travel and travel related services", this time around the CCI took a more open-ended approach owing to the rapidly evolving nature of the sector and, in an attempt to distinguish the Online Travel Agency segment from offline distribution channels, defined the relevant market as "market for intermediation services for online hotel booking".
Other areas of concern expressed by the CCI included discriminatory application of service fees, and predatory pricing by MMT-Go, while it refrained from ordering an investigation into the charging of exorbitant commissions. An investigation was also launched into Intel on the basis of a complaint filed by Matrix Info Systems wherein allegations against unfair and discriminatory provisions in the warranty policy for boxed microprocessors in India were levelled against them.
The CCI in its order dated Consequently, the DG was directed to submit his findings so as to ascertain whether there has been an abuse of dominance in violation of Section 4 of the Act. Following in the footsteps of its previous orders initiating probes into governing bodies of cricket , hockey , athletics and chess , the CCI directed the DG to initiate an investigation into the alleged abuse of dominance by the Volleyball Federation of India vide order dated The impugned conduct manifested in the form of the Federation's agreement with Baseline Ventures India granting them exclusive rights to organize volleyball tournaments for 10 years and undertaking to restrict volleyball players from participating in tournaments organized by other entities, thereby amounting to potential foreclosure of access to the relevant market for Baseline's competitors.
Furthermore, the CCI opined that the agreement also served as a restriction on the players' right to freely provide their services through participation in tournaments promoted by other organisations. The CCI held that access to the space at the airport premises is an input which is indispensable to the provision of LMS and would be considered an "essential facility" for provision of services in the downstream market. New Town Electric Supply Company dismissed a complaint filed by a cooperative society against an electricity distributor in West Bengal on the ground that the complaint which arose from a 'deficiency of service' by the discom was a consumer dispute with a state body, thereby excluding the jurisdiction of the CCI under the Act.
It is pertinent to note that this dismissal was made despite having found the discom to be dominant and proof of its conduct tied to the delay in power supply facilities for over ten years with numerous representations in this regard having been ignored by them. This order has been challenged by the consumer federation before the Appellate Tribunal and given the obvious error in the CCI's interpretation of the dispute, one can only hope that the Tribunal swiftly remedies the same.
Finally, the Appellate Tribunal, vide its order dated While assessing the informant's allegations, the CCI held that the relevant upstream market was the market for terminalling services at Vishakhapatnam Port, in which SALPG enjoyed a monopoly status, and its reasons for denial of access to the informant were unjustified.
The CCI directed SALPG to a desist from insisting on mandatory use of its cavern and allow bypassing the cavern for both pre-mixed and blended LPG; and b allow access to its competitors, potential as well as existing, to the terminalling infrastructure at Vishakhapatnam Port. In its order, the Tribunal reiterated the CCI's findings and stated that SALPG's restrictions amounted to a violation of Section 4 as they were solely incorporated to protect its own commercial interests.
As opposed to , most combinations were approved unconditionally, while few required minor modifications, and only one resulting in the appointment of a monitoring agency. The first significant combination notified by the CCI was the acquisition of This was however approved only after a voluntary modification to the effect that the existing customers would not have to change any equipment at their premises for services currently being availed by them, and that if required, the parties to the combination would undertake the cost incurred for any technical modifications to such equipment.
That wasn't all for India's largest company in , as it strengthened its presence in the textile manufacturing sector through its acquisition of insolvent entity Alok Industries Limited, jointly with a trust managed by the JM Financial Asset Reconstruction Company Ltd. Yet another transaction involving Amazon NV Investment Holdings was notified in , wherein the Amazon subsidiary's acquisition of 0.
Is your job in jeopardy? Cartels driving public procurement — Hindu BusinessLine, September Free calling or dialling antitrust? The debate on essentials — Hindu BusinessLine, March E-tailers and the future of friction-free capitalism — Business Standard, November
BETTER PLACE INSTRUMENTAL BEAT DOWNLOAD
The entrance is defined as the level at which a trader buys an asset, the exit is the price at which a trader sells an asset, and the stop-loss is the level that an asset must fall before a trader will sell to limit their losses, while the take-profit is the level at which a trader plans to sell an asset if it rises according to their prediction.
These can be used in lieu or in combination with VPVR to develop a trading strategy. Volume Profile Fixed Range is very similar to VRVR, however, it allows users to define the start and endpoint, making it easier to view the volume for a selected range.
Each session is considered a day, which makes this better for looking for longer-term volume trends. This can be used as an important retest point or to calculate potential support and resistance. It can be used as an alternative to moving averages to calculate potential support and resistance. HVNs show the prices at which the highest volume of an asset was traded. VPVR can also be misleading, especially if you only look at it for a short-range interval.
For day trading, day volume profiles may be the easiest to understand, particularly for those who trade in four-hour increments. Common volume trading strategies and indicators include: Volume vs. Price Change: If the volume is low, but the price of an asset moves quickly, the new price may be unsustainable, leading to a spike, followed by a choppy top level, and then a quick reversal to the previous price.
If an asset price has reached the choppy top level, this could be an opportunity to briefly short the asset. Filling The Gap: As with a price volume vs. Volume Support and Resistance: If an asset has reached a new price level with a very high volume, this could become a new support or resistance level, which traders can use to calculate when to go either short or long on a crypto asset.
Other important general trading strategies and indicators include: Moving Averages: Most traders, when trading volume, momentum, or other strategies, utilize moving averages as important indicators for their strategy. Common moving averages include Simple Moving Average SMA , which averages the closing prices of an asset for a specific period, such as days.
An exponential moving average EMA , in contrast, utilizes the same core data but puts more weight on recent prices. Volume-Weighted Average Price VWAP is a moving average that takes into account both price and volume, and resets every trading period or, for crypto, typically every day , making it potentially better for day trading. Order Flow and Heatmaps: Order Flow trading involves observing the flow of trading orders and their impact on the asset price in order to predict future prices.
For example, big orders may lead to more sudden price changes in comparison to many smaller orders at the same overall volume. It is an extremely granular form of analysis that is generally intended for trading over very short intervals. Heat maps are not considered an indicator, just a visual way of demonstrating order flow. Bollinger Bands: Bollinger Bands is a technical indicator that utilizes three lines to calculate potential support and resistance levels using three lines.
A typical calculation utilizes a day simple moving average SMA for the middle band. The lower band is created by taking the SMA of the middle band and subtracting 2x the daily standard deviation. The entrance is defined as the level at which a trader buys an asset, the exit is the price at which a trader sells an asset, and the stop-loss is the level that an asset must fall before a trader will sell to limit their losses, while the take-profit is the level at which a trader plans to sell an asset if it rises according to their prediction.
These can be used in lieu or in combination with VPVR to develop a trading strategy. Volume Profile Fixed Range is very similar to VRVR, however, it allows users to define the start and endpoint, making it easier to view the volume for a selected range. Each session is considered a day, which makes this better for looking for longer-term volume trends.
This can be used as an important retest point or to calculate potential support and resistance. It can be used as an alternative to moving averages to calculate potential support and resistance. HVNs show the prices at which the highest volume of an asset was traded. VPVR can also be misleading, especially if you only look at it for a short-range interval. For day trading, day volume profiles may be the easiest to understand, particularly for those who trade in four-hour increments.
Common volume trading strategies and indicators include: Volume vs. Price Change: If the volume is low, but the price of an asset moves quickly, the new price may be unsustainable, leading to a spike, followed by a choppy top level, and then a quick reversal to the previous price. If an asset price has reached the choppy top level, this could be an opportunity to briefly short the asset.
Filling The Gap: As with a price volume vs. Volume Support and Resistance: If an asset has reached a new price level with a very high volume, this could become a new support or resistance level, which traders can use to calculate when to go either short or long on a crypto asset. Other important general trading strategies and indicators include: Moving Averages: Most traders, when trading volume, momentum, or other strategies, utilize moving averages as important indicators for their strategy.
Common moving averages include Simple Moving Average SMA , which averages the closing prices of an asset for a specific period, such as days. An exponential moving average EMA , in contrast, utilizes the same core data but puts more weight on recent prices. Volume-Weighted Average Price VWAP is a moving average that takes into account both price and volume, and resets every trading period or, for crypto, typically every day , making it potentially better for day trading.
Order Flow and Heatmaps: Order Flow trading involves observing the flow of trading orders and their impact on the asset price in order to predict future prices. For example, big orders may lead to more sudden price changes in comparison to many smaller orders at the same overall volume. It is an extremely granular form of analysis that is generally intended for trading over very short intervals. Heat maps are not considered an indicator, just a visual way of demonstrating order flow.
Bollinger Bands: Bollinger Bands is a technical indicator that utilizes three lines to calculate potential support and resistance levels using three lines. A typical calculation utilizes a day simple moving average SMA for the middle band.
The lower band is created by taking the SMA of the middle band and subtracting 2x the daily standard deviation. The upper band is determined by adding twice the daily standard deviation of the SMA utilized by the middle band. Ichimoku Cloud: The Ichimoku Cloud is a combination of technical indicators intended to project support and resistance levels, as well as trend direction and momentum.
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