Court Re­lief for Auto Cos

The Economic Times - - Companies: Pursuit Of Profit -

Pro­vid­ing an in­terim re­lief to Nis­san, Ford and Toy­ota, the Supreme Court or­dered a stay on the Com­pe­ti­tion Ap­pel­late Tri­bunal’s (COMPAT) De­cem­ber or­der up­hold­ing charges of anti-com­pet­i­tive prac­tices against these au­tomak­ers.

The Com­pe­ti­tion Com­mis­sion of In­dia (CCI) in 2014 found 14 com­pa­nies, in­clud­ing these 3 guilty of mo­nop­o­lis­tic be­hav­iour in the spare parts mar­ket. The an­titrust body or­dered them to pay a penalty equiv­a­lent to 2% of their an­nual av­er­age turnover for three years pre­ceed­ing the launch of its in­quiry.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.