ERJ staff report (LMH)
London - The Competition Commission of India has ruled that there is â€œno substantative evidence of the existence of a cartelâ€ between five Indian tyre companies, despite the CCI's director general of investigations saying otherwise.
In 2007, the All India Tyre Dealers Federation accused the five companies - Apollo Tyres, Ceat Tyre, JK Tyre, Kesoram Industries and MRF - of collusive pricing, tax avoidance and trade malpractice, according to a report in Indian news website, Money Control. The companies controlled 95 percent of the Indian market.
Following a two-year investigation, the majority of the members of CCI decided that there was not sufficient evidence to indicate cartelization, with only one CCI member supporting the report carried out by the director general of investigations which found the companies guilty of collusion.
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Order from CCI
Analysis from Money Control