 "Tribunal to hear Jitender Bhargava's plea against Jet-Etihad on 9 January")
The Competition Appellate Tribunal (COMPAT) has agreed to hear former Air India executive Jitender Bhargava’s plea against the clearance to the Rs 2,060-crore Jet-Eithad deal.
The deal was approved last month by the Competition Commission of India. The CCIwill now argue its case before the tribunal on 9 January.
Bhargava, in his appeal against the CCI clearance, has alleged that the proposed combination would have adverse effect on competition in India.Bhargava has alleged that CCI’s analysis of ‘relevant market’ is incorrect and the deal will worsen barriers to entry in the aviation market.
[caption id=“attachment_1225773” align=“alignleft” width=“380”]  Reuters[/caption]
He has also contended that the CCI failed to conduct a detailed inquiry into the deal. He has stated in his petition that the CCI failed to effectively carry out the appreciable adverse effect on competition (AAEC) assessment in accordance with Section 20(2) of the Act, and, in doing so, in its order, placed all air passengers and indeed the entire Indian airline industry into a grave risk of suffering irreparable damage and permanently eliminating competition.
“By simply assuming that all Indian passengers are generally price-sensitive (and not time-sensitive), CCI has concluded that direct and indirect flights are substitutable and on this basis completely failed to carry a separate analysis for the two relevant markets (India and Qatar). Further, CCI failed to consider the ‘market for air cargo transport’, in which the parties effectively compete…. Consequently, the unconditional approval granted by CCI is deeply flawed and the order should be set aside,’’ said the appeal.
Meanwhile, BJP leader Subramanian Swamy has written to capital market regulator Sebi asking Etihad to be considered a ‘person acting in concert’ with Jet’s current promoters for this deal.
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