Publicis sues Competition Commission of India for denying case files in ad agencies probe
Publicis has sued India's antitrust watchdog, the CCI, for denying access to case files related to a price-fixing investigation involving major ad agencies. The French group's legal action follows raids and allegations of collusion over publicity rates.
Reuters Publicis is the first company to file a lawsuit related to the high-profile CCI investigation in court. Publicis has sued India's antitrust watchdog for denying access to case files in a high-profile price-fixing investigation of ad agencies, after the French group failed to get the probe stalled until it could review the documents, court filings show. The Competition Commission of India (CCI) shook India's near-$30 billion media and entertainment sector in March with dawn raids at WPP's GroupM, Dentsu, Publicis, Omnicom and many other agencies over suspected collusion over publicity rates and discounts.
Details of cartel cases are kept confidential in India, but Reuters has reported that the CCI's initial assessment found the firms used a WhatsApp group to coordinate and agree on pricing, entered into secret pacts, and colluded with broadcasters to deny business to agencies that didn't comply. Concerned the CCI has not responded to its requests in recent months to provide access to case files, Publicis approached the Delhi High Court on August 11 asking judges to order the watchdog to accede to its requests, according to its non-public filing reviewed by Reuters on Thursday. Publicis and its employees in India are "unable to understand the allegations against them and prepare a defence in the absence of the case records", it said in the filing.
The CCI did not respond to Reuters queries, and the court is likely to hear Publicis' case next week. The filing was made by TLG India, which its court papers said "is the legal entity that houses majority of the advertising business of the Publicis group in India". The antitrust investigation was triggered by Dentsu disclosing alleged industry malpractices to the CCI in February 2024 under the regulator's leniency program, which allows lesser penalties for firms that share evidence of malpractice. Publicis is the first company to file a lawsuit related to the high-profile CCI investigation in court. Filings showed the company urged the CCI in July that "further investigation remain in abeyance till" it is granted inspection of case records. CCI investigations typically take several months. The regulator has powers to impose financial penalties on the media agencies of up to three times their profit or 10% of an Indian entity's global turnover, whichever is higher, for each year of wrongdoing. Publicis' court filing also showed the CCI in July asked for a brief note from the company about its business model, and how operations are coordinated with the parent entity. On August 4, the CCI issued summons to Publicis' South Asia chief Anupriya Acharya to appear before investigators, and provide documents such as copies of key contracts involving Publicis and its Indian entities, including on revenue sharing. Acharya did not respond to Reuters queries, and Publicis has asked the court to quash the summon.
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The Hindu
17 minutes ago
- The Hindu
Why are thousands of small and marginal farmers in Maharashtra rejoicing about India-U.K. FTA?
In Nilwande village, 50 kilometres away from Nashik city, 35 years old Chhaya Thete wakes up early morning to send her two children to a private English medium school around an hour away from her village. Tiffins packed, meals cooked, she then heads to her farm to see if the stems in her vineyard have changed colour. Due to the unseasonal rain this time, she is worried that there will be diseases on the leaves and that the yield might reduce. But there is one thing she looks up to this year – the increased income on her export quality grapes. She is kicked about the India – UK Free Trade Agreement, whereby Indian grapes will now enter UK duty-free. For this woman farmer with a marginal land holding of close to two acres, it promises better income, better standard of living and some disposable income. The district of Nashik is called the grape capital of India. In 2023-24, India exported over 3 Lakh metric tonnes of grapes, valued at over $400 million. Maharashtra is the its biggest producer. UK has consistently been one of our top importers. And most of the grapes grown in the fertile land of Nashik make their way to the European market. With the India-UK Free Trade Agreement, Indian grapes will now become more competitive in the European market and will stand a better chance in front of competitors like South Africa, Chile, which have to exporting to UK without any tarriff. Our grapes were levied a tarriff of eight per cent earlier. But for the small and marginal farmers, a majority in India, the better chance of exploiting this opportunity comes with the power of collective farming. Over the last decade or so, Chhaya, along with her husband Dnyaneshwar Thete, has repaid a bank loan, bought more land for grape cultivation, and has built a small bungalow on the land where a modest house with thatched roof stood once. She cultivates some new and exclusive varieties of grapes like Ara. And Chhaya Thete is not alone. In the neighbouring village, 49 years old Vijay Wadje and his young son are equally excited. They have been cultivating some of the exclusive grape varieties for export for a while now. And the experience of sending it for export has been different from the experience of selling the produce in the domestic market. 'I have been doing grape farming for 25 years now. Earlier, I used to cultivate Sonaka variety. I did it for almost 10 years, and sold the produce in the domestic market. But not only did I get poor rate, the income was also not fixed. We had to pack the grapes ourselves and take them to the trader, who would hardly ever pay on time. But then, over a decade ago, I saw people around me cultivate Thompson variety. I saw them prosper. So I decided to try my hand at it. And since then, there has been no looking back. Today, I cultivate Thompson, Ara varieties. The produce goes to the company. We get timely payment as per the quality of the produce. There is strict testing and quality control. The higher the quality of my grapes, the better the price,' said Vijay Wadje. He owns 2.5 acres of land. Each acre gives him 100 quintals of grape. Each kilogram earns him anywhere between Rs 60 to Rs 100, depending on the quality. His son, 23 years old Rahul Wadje, who has completed Physics, joined his father in agriculture three years ago while doing a part time agriculture diploma. He is one of the few youngsters who want to continue farming. Others are moving away from the family farms, looking for private or government jobs. 'I want to continue farming. But that is not sufficient. I want to simultaneously start an agriculture-allied business, like providing hardware or mulching paper, for agriculture,' he said with excitement in his voice and a twinkle in his eyes. He has been consciously carrying out experiments in the farm to improve the quality, and is acutely aware of the strict quality control measures farmers have to take for making the produce which passes the stringent export norms. 'We test our soil five times a year. We also test our vineyard regularly. The petiole testing is crucial. The European market is very strict. They test the taste, colour, variation. They want each berry to be the same size, to have the same taste and colour. They don't want chemicals in their grapes. We follow all the international norms. Our grapes are the best quality for eating. Even we eat them right from the vineyard. If we buy grapes from the market, we need to wash them thoroughly. But that is not the consideration for the export quality grapes we grow The secret behind their changed fortune is collective farming. They are all a part of the 14,000 farmers associated with a Farmer Producer Company – Sahyadri Farms. In a country where over 90 per cent farmers are small and marginal farmers, the collective has given them the bargaining power and the strength to generate volumes to stand in the competitive international market. 'Do or die' situation 'We are in a do-or-die situation when it comes to being competitive in the international market. The only solution for a country where most of the farmers have less than one hectare land holding is collective farming. Without that collective approach, we can't create your own ecosystem. We can't make it profitable. That ecosystem should be competitive at a global level. Then only there is real prosperity,' said Vilas Shinde, chairperson and managing director of Sahyadri farms. The company is one of the leading FPCs in India and the country's largest grape exporter with 17 per cent market share. It grows more than 30 new varieties including 19 exclusive patented varieties. In 2025, it Sahyadri has recorded sale of over Rs 1900 Crore. Over 14,000 farmers are associated with Sahyadri for grape production. The company said that the FTA will lead to at least 15 per cent better returns for the farmers. 'For grapes, India will have great advantages. Volume will increase due to fair competition. Along with grapes, there will be bigger opportunities for other horticulture commodities pomegranate, mango, citrus fruits. It will lead to end-to-end ecosystem, improving standard for customer requirement. This will lead to greater learning which will help farmers not just in the UK, but in other markets like Japan, USA. It will help in domestic market as well. The demand for premium fruits is increasing. Food safety related standards will force the farmer community give better quality,' he said. Every year, Sahyadri exports 22,000 metric tonnes of grapes. 30 per cent of it goes to the UK market.
Economic Times
17 minutes ago
- Economic Times
Bank of Azad Hind: When Netaji gave India its own currency
Synopsis In 1944 Rangoon, Netaji Subhas Chandra Bose established the Bank of Azad Hind to fund his liberation campaign, demonstrating India's financial capabilities before independence. Capitalised by the Indian diaspora, the bank became the Provisional Government's treasury, issuing its own currency and supporting various war efforts. Image: Netaji Research Bureau It is April 1944 in Rangoon. In a vacant bungalow off Jamal Avenue, carpenters are at work turning bare rooms into a working bank. Just a week earlier, this was an empty space. Now, it is about to become the headquarters of a bank and no, this one is not the story of how the Reserve Bank of India (RBI) was birthed. This bank was under the authority of the Provisional Government of Free India, led by Netaji Subhas Chandra Bose. Five years before the RBI became fully independent in 1949, Bose launched the Bank of Azad Hind to fund his liberation campaign and to demonstrate that India could run its own financial institutions before it had even won its political freedom. Also Read: Independence Day 2025: Tryst with growth — India's economic journey from Nehru to now The short but strong saga of this bank has been well drafted in S.A. Ayer's book, "Unto Him a Witness". Ayer, who served in Bose's cabinet, wrote, 'At this stage, Netaji established the first National Bank of Azad Hind outside India in Rangoon on the 5th of April, 1944, to finance the war of India's liberation.' The 'stage' Ayer refers to was a tense moment. Bose was preparing to leave for the front in the Imphal–Kohima campaign. Japanese and Burmese authorities were sceptical about establishing a bank in wartime, fearing political complications. Some colleagues worried about capital, stability, and the timing. But Bose was unmoved and unbothered. 'Have a bank I must, and that too within a few days, before I leave for the front. I must open the bank and then go to the front,' Ayer quoted Bose as came quickly from the Indian diaspora in Southeast Asia. Ayer recounted how four Indians stepped forward to fund the initial days of the newly founded bank, with a vision of free India. 'Perhaps, you may be surprised to hear that four Indians have come forward to find between themselves all the required capital for the bank. They are prepared to write off the capital, if necessary, though I am quite sure they won't have to. In any event, they are ready to assign to the Provisional Government of Azad Hind eighty per cent of the annual profits.'This show of support ended Japanese resistance. 'That silenced the Japanese pretty effectively,' Ayer notes. What followed was a full and renewed case of dedication. Also Read: India's space race: From bullock carts to Gaganyaan'How one man, Yellappa, and the other four patriotic Indians worked like Trojans night and day for a week and converted a vacant building into a full-fledged bank — with an authorised capital of rupees fifty lakhs is a romantic story that deserves a chapter all by itself,' Ayer Fay, in his book "The Forgotten Army", recounts how Netaji's appeal in Rangoon for rupees 5 million triggered an extraordinary outpouring of support from the Indian community in Burma and Malaya, ultimately swelling the Azad Hind Bank's reserves to about 215 million rupees – more than 150 million rupees from Burma media reports and later historical accounts identify some of the most prominent donors: Abdul Habeeb Yusuf Marfani, a Gujarati businessman in Rangoon, is said to have pledged his entire fortune of roughly 1 crore rupees; the Betai family, Hiraben and Hemraj, reportedly contributed 50 lakh rupees in cash and assets; and Iqbal Singh Narula famously offered silver equal to Netaji's own Bank of Azad Hind soon became the treasury of the Provisional Government. 'The funds of the Provisional Government were banked with this bank,' Ayer wrote. It accepted donations 'in cash as well as in kind' from traders, shopkeepers, and plantation workers. These resources funded soldier pay, procurement, propaganda, and relief efforts. Also Read: UPI and beyond: The great Indian banking leap The bank even issued its own currency, denominated in rupees, which circulated in INA-controlled territories, a symbolic assertion of monetary sovereignty even if it carried no value in British himself served as chairman. 'The National Bank of Azad Hind was established in Rangoon in April 1944. I know a man called Dina Nath. He was one of the Directors of the Bank. I was the Chairman of the Bank,' he institution's life was brief. It closed by the end of World War II or precisely after the INA's retreat and the fall of Rangoon. But decades later, it resurfaced in an unexpected way. Following the Modi government's decision in 2016 to declassify files related to Bose, the finance ministry began receiving unusual petitions. Several borrowers wrote offering to repay their loans using Azad Hind Bank currency notes, some promising the bearer sums as high as ₹1 lakh. 'We have received representations from some individuals who want the currency issued by Azad Hind Bank or similar variants to be recognised as legal tender,' a government official told ET at the Reserve Bank of India, citing Section 22 of the RBI Act, 1934, rejected the requests, saying it had no record of such an entity and that only the RBI has the sole authority to issue banknotes. Some petitioners pushed back, arguing the RBI 'itself was formed by the British' and that the government should take a fresh Ayer's view, the bank was never merely a repository of funds for Bose: Perhaps it was a pledge of a nation to free itself, having 'our own currency and our own bank' alongside an army and a government.
Indian Express
an hour ago
- Indian Express
Vasai-Virar illegal construction: ED says ‘intricate cartel' involved, used codewords to signal bribes
CALLING IT an 'intricate cartel' involved in large-scale corruption, the Enforcement Directorate (ED), which arrested four including the former Vasai Virar City Municipal Corporation (VVCMC) Commissioner, IAS officer, Anil Kumar Pawar, claimed that from the junior engineer to the commissioner, commissions from Rs 1-2 per square feet to Rs 25 per square feet were paid as bribes for illegal construction in the region, with a 'codeword system' in place. A special court on Thursday sent Pawar, YS Reddy, the suspended official, who was the deputy director of Urban Planning, Sitaram Gupta, a former corporator of the Bahujan Vikas Aghadi party and construction businessman and his nephew Arun Gupta, to ED's custody till August 20 for further probe. The ED arrested the four on Wednesday in connection with its probe into the illegal construction of 41 residential and commercial buildings in the Vasai-Virar region, with connivance between VVCMC officials and builders. The buildings were constructed on 60 acres of land, 30 of which was government land, reserved for a dumping ground and a sewage treatment plant. Relying on statements recorded of builders and architects, the ED claimed that the legal department of the municipal corporation was paid Rs 50,000 to Rs 1 lakh per file, the engineering department, Rs 25,000 per file and the others from junior engineer, municipal engineer, assistant director, deputy director and the commissioner, as per a fixed rate as per square feet of the illegal buildings. The ED's special public prosecutor Kavita Patil, told court that Reddy, who was at the town planning department since 2012, used a codeword system, for collection of bribes, where 'D' meant for commission to be paid to him, and 'C' for then commissioner, Pawar. The ED claimed that in searches carried out at the home of Reddy, who was deputy director, town planning from 2012, Rs 8.23 crore cash and 'diamond-studded' jewellery worth Rs 23.25 crore was seized. 'The accused number 3 (Reddy) organised a cartel of VVCMC officers, junior engineers, architects, CAs and Liaisoners. He was involved in an organised action plan to acquire the proceeds of crime by committing the illegal omission to perform his public duty and thereafter granting development permissions at fixed rates,' the ED claimed. The ED claimed that evidence including WhatsApp chats revealed that he charged Rs 10-12 per square feet of the built area of the project. The ED alleged that Pawar, who was the commissioner from 2022 to 2025, was directly responsible for taking preventive action so that no illegal construction occurs but he turned a blind eye. 'Accused number 4 (Pawar) flourished the already existing cartel comprising of senior VVCMC officers, local builders, liasioners for keeping a blind eye and taking no action over rampant illegal construction on government/private land and fixed the commission /bribe amount at the total rate of Rs 150 square feet,' the ED told court. It referred to another statement claiming that Pawar took Rs 50 per square feet and the rest was distributed among three senior posts. The central agency claimed that this was done through a distant relative of Pawar, who allegedly collected the money from Reddy and invested in properties at various locations in the state, and bought luxury expensive sarees, gold, pearls, gold and diamond studded jewellery. The ED had claimed that the cash was infused in multiple entities including in residential projects floated in the names of his close family members, including his wife. The ED claimed that Pawar's custody is necessary to prevent tampering or evidence as it suspects that he deleted call logs and WhatsApp data when a search was conducted at his home. The accused denied these charges with one of them claiming that the case resulted out of political vendetta.
