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Time of India
35 minutes ago
- Time of India
Publicis sues India antitrust body for denying case files in ad agencies probe
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. Independence Day 2025 Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji gave India its own currency Swadeshi 2.0: India is no longer just a market, it's a maker 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. Live Events 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.
Hindustan Times
2 hours ago
- Hindustan Times
ED freezes ₹110 crore linked to illegal betting platform Parimatch
MUMBAI: The Mumbai unit of the Enforcement Directorate (ED) has frozen ₹110 crore lying in mule bank accounts in connection with a money-laundering probe into Cyprus-based illegal betting platform Parimatch. The action followed coordinated searches at 17 locations across the country on Tuesday, including Mumbai, Surat, Delhi, Noida, Kanpur, Madurai and Hyderabad. ED freezes ₹ 110 crore linked to illegal betting platform Parimatch The platform, owned by a Ukrainian national abroad, allegedly amassed nearly ₹3,000 crore from Indian users in 2023-24 alone, luring them with promises of high returns before defrauding them, ED officials said on Thursday. According to investigators, the frozen funds—proceeds of crime—were parked in multiple mule accounts used to layer and divert money to various recipients. Searches also led to the seizure of incriminating documents, digital devices and 1,200 credit cards linked to mule accounts. Complex laundering network The ED's probe, based on a complaint by the cyber police station in Mumbai, has uncovered a multi-layered laundering operation. In south India, user deposits were allegedly funnelled into mule accounts and withdrawn in cash in parts of Tamil Nadu, before being handed to hawala operators. These operators then recharged virtual wallets of a UK-based firm, which were used to buy USDT cryptocurrency in mule accounts run by Parimatch agents. In western India, Parimatch allegedly used Domestic Money Transfer agents to collect betting funds in mule accounts and channel them back through credit card transactions. Investigators have also flagged payment companies whose Payment Aggregator licence applications were rejected by the Reserve Bank of India. These firms allegedly provided backend services to Parimatch disguised as Technology Service Providers (TSPs), offering Application Programming Interface (API) access to integrate mule accounts—often opened in the names of e-commerce and payment service firms—into the platform. The funds were then 'masked' as e-commerce refunds, vendor payments and other routine expenses to obscure their origin and movement, officials said. Aggressive promotion in India To attract customers, Parimatch invested heavily in marketing, sponsoring sports tournaments and tying up with celebrities. Indian-registered entities—'Parimatch Sports' and 'Parimatch News'—were allegedly used for surrogate advertising, funded through foreign remittances. A city - based businessman, who is the complainant in the Mumbai police's case, alleged that he had lost around ₹12.22 crore at the accused illegal platform and its allied applications due to their 'non adherence to fairplay'. The businessman claimed he got attracted to the accused gaming platform's claims related to high returns, sometime in 2021, after noticing its advertisements and celebrity endorsements for it on a social media platform. 'All of us who have lost any money on the accused platform should be compensated,' the complainant told HT.
Time of India
7 hours ago
- Time of India
DRG personnel injured in IED blast in Bijapur
Raipur: A personnel of District Reserve Guards (DRG) suffered injuries in an IED blast triggered by Maoists in insurgency-hit Bijapur district in Bastar division on Thursday. Police officials said that a joint team of DRG and Special Task Force (STF) came under attack during an anti-Naxal operation in Indravati area of Bijapur, when an IED went off. It's not clear if the IED was commanded or pressured. Officials confirmed that the injured trooper's condition is out of danger. He was given first aid on the spot and is being evacuated for further medical treatment. In another development, security forces carried out anti-Naxal operations against Maoist activities in the Pamed and Tarrem areas of Bijapur district in Bastar division, demolishing a Maoist memorial and seizing a cache of explosives and weapons from forest hideouts on Thursday. A joint team of CoBRA battalion from Sukma, and CRPF launched an offensive in Pamed region. During the operation, forces demolished a Maoist-built memorial in the forests of Urtamalla. The teams had moved towards Gundrajgudem, Badsenpalli, Mangaltor, and Urtamalla as part of the search mission, officials said. In a separate operation under Tarrem police station limits, a combined team of the District Force and the CRPF's 170th battalion conducted an intensive search in the Komatpalli forest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indian NRIs Are Getting Eligible For INR 2 Lakh Monthly Pension On Retirement. Invest 18K/M Get Offer Undo They discovered a large Maoist dump hidden among boulders in the hilly terrain. Recovered materials include country-made gun, BGL rounds, rods, and parts, explosive-making materials (PEK, urea, electric wire), ammunition pouch, pressure cookers (10-litre, 5-litre, 3-litre) and saw blades, speakers, and other items. Security forces also dismantled Maoist temporary camps and training facilities in the area. Officials say these actions are part of an ongoing effort to weaken Maoist infrastructure and disrupt their operational capabilities. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Independence Day wishes , messages , and quotes !
