Indian authorities to impose stringent penalties on tyre cartel - reports
ERJ staff report (DS)
New Delhi - The head of India's competition commission has said he expects by early October to put in a final order on alleged cartel offences by up to 15 tyre suppliers in India. CCI chairman Ashok Chawla was quoted in the Economic Times newspaper saying, "We are now in the stage of finalising the order. So, while it's difficult to give an exact timeline, I believe we should be able to put out the order in the next 10-15 days."
In a report from the Hindu Business line, the CCI said it expects to impose â€œstringentâ€ punishment on tyre manufacturers in a cartelisation case.
The Hindu Business Line reported un-named sources in the CCI saying, â€œThe CCI has completed the hearing on tyre companies and order to this effect will be issued shortly. The Commission is modelling itself on the lines of European Competition Commission, which has strict punitive actions against companies found guilty of violating competitive trade practices.â€
ERJ sought comment from the CCI, but the organisation had not responded by the time this story was posted.
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Tyre sector order in next 10-15 days; scanner on newer sectors like healthcare: CCI chief Ashok Chawla
Economic Times (India)
Competition panel may ask tyre firms to pay three times their profit
The Hindu Business Line (India)