Former Air India executive moves Appellate Tribunal over Jet-Etihad deal

 

New Delhi: Jitender Bhargava, a former Executive Director of Air India, has approached the Competition Appellate Tribunal against the Competition Commission of India order on the Jet-Etihad deal, saying the combination, if so approved, will have an adverse impact on the domestic market.
The matter has been listed for hearing on December 19.
On November 12, the CCI had approved the deal saying that the proposed acquisition of 24 per cent equity stake by Etihad in Jet Airways was not likely to have an adverse effect on competition. It had allowed the stake buy on the basis of an Investment Agreement, Shareholder’s Agreement and a Commercial Cooperation Agreement the airlines had executed on April 24.
According to Bhargava, the said order “is bad in law, fraught with inconsistencies and issued without a proper analysis of the market conditions.”
Read news in full 12/12/13 Business Line