digital markets

Digital Markets Must be Defined Well for Competition Regulation

The rise of the digital sector has presented unique challenges for Indian regulatory authorities, including the Competition Commission of India (“CCI”), thanks to significant differences in the way such markets operate compared to traditional markets. There is growing demand, worldwide and in India, to hold digital platforms responsible and accountable for adverse impacts caused by them. A preliminary step involved in such probes is that of defining a ‘relevant market’ within which such digital platforms operate. This note analyzes the CCI’s approach on defining a ‘relevant market’ in the digital sector so far, and the need of the hour in terms of considering all substitutable and interchangeable products or services while defining such markets.


pvr inox

The PVR-INOX Merger: Bouncing Back from the Pandemic

On March 27, 2022, PVR Limited announced that it proposes to merge with INOX Leisure Limited. The combined entity will be rebranded as ‘PVR INOX’ and will have a network of 1,546 theatres. Ordinarily, a deal of such magnitude would have required prior approval from the Competition Commission of India, however the decreased revenue of the parties owing to the pandemic appears to have provided a unique benefit to this deal. This note analyzes the market positions of PVR and INOX, the role of the CCI, and the target based exemption that is applicable to this deal.