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Geep challenged CCI's recovery notice dated July 17 levying 1.5% simple interest on a Rs 2.4 crore penalty amount. It claimed that levying of interest on penalty is in violation of CCI's penalty recovery regulations
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The court has stayed the recovery proceedings against beer makers subject to them depositing an additional 10 percent of penalty
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Mandaviya invited global companies to set up fertiliser manufacturing plants and storage facilities in India, besides partnering with Indian firms to supply soil nutrients.
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Speaking at the 13th annual day function of the Competition Commission of India (CCI), Finance Minister Nirmala Sitharaman on Friday flagged concerns about possible cartelisation in markets.
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"The company has been advised that the order of the Commission is not based on a proper appreciation of facts and law and will accordingly take appropriate legal recourse in this matter," it said in a regulatory filing.
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The tyre manufactures had exchanged price-sensitive data amongst them through the platform of their association, thereby violating the law that prohibits anti-competitive agreements, per the CCI statement.
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Nitin Gadkari believes the steel industry has formed a cartel that is hiking prices in a concerted manner. His call for regulatory action is worrying investors
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Builders Association of India (BAI) statement comes after Competition Commission of India launched raids against LafargeHolcim, parent firm of ACC and Ambuja Cements, as well as on Aditya Birla group firm UltraTech Cement and Shree Cement.
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Compat has dismissed the appeal of Binani Cement seeking waiver of the direction to deposit with it 10 percent of the total penalty amount which was imposed by Competition Commission in a cartelisation case.
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Corporate tax lawyer, HP Ranina, says this move by COMPAT will give the companies an opportunity to prove that they did not resort to cartelisation and the prices were independently based on the demand supply situation and other related factors.
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The Competition Commission of India (CCI) on Thursday gave a clean chit to Jindal Steel & Power (JSPL) on allegations of cartelisation saying it hasn't found enough evidence to support the same.
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The CCI on Thursday gave a clean chit to JSPL on allegations of cartelisation saying it hasn't found enough evidence to support claims of cartelisation, reports CNBC-TV18 quoting sources.
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The case pertains to the government's decision of cancelling the coal mine bids of JSPL and Balco for four blocks amid reports of speculation of cartelisation during auctions.
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Besides Shree Cement, CREDAI has also banned UltraTech Cement and Lafarge, alleging the companies of indulging in practices of cartelisation and malpractices
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Fair trade regulator CCI is in an advanced stage of taking a final decision on cartelisation allegations made against five carriers, including market leaders IndiGo and Jet Airways, with respect to introduction of fuel surcharge for cargo transportation.
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Macquarie maintains an underperform rating on the stock with a target price of Rs 2020 per share.
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The HC dismissed Sarda Energy‘s plea challenging 2-stage biudding auction process.
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Steep discount sales offered by various online retailers have raised concerns of anti-competitive practices.
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The Karnataka iron ore miners hit back today, insisting they will not follow the prices offered by NMDC and rubbish allegations of cartelisation.
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The Competition Commission of India (CCI) is currently looking into suspected unfair trade practices by state-run oil marketing firms while setting petrol prices.
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The humble onion has already hit a century in the retail markets of Bhopal and Patna. It is expected to complete a century in Delhi, Chandigarh, Srinagar, Lucknow and other north Indian vegetable markets.
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With air fares soaring again, fair trade watchdog CCI is gearing up for a fresh probe into possible cartelisation among airlines to jack up prices, and it wants to gather more details this time around.
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The Competition Commission of India (CCI) is looking into whether the mobile operators acted as a cartel during the recent airwave auction that had elicited tepid response.
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It is not cartelisation or a wilful action on the part of banks not to pass cuts, said Diwakar Gupta, Managing Director, State Bank of India adding that there were several global banks which had net interest margins in the range of 3 percent.
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The Competition Commission is likely to look into whether there was cartelisation among telecom players in the recent spectrum auctions, as has been charged by the country's top auditor.
