CCI imposes penalty on Tyre manufacturers and their Association for indulging in cartelisation (CCI Press Release dated 02nd Feb 2022)

The CCI imposed penalties of Rs. 425.53 crore on Apollo Tyres, Rs. 622.09 crore on MRF Ltd., Rs. 252.16 crore on CEAT Ltd., Rs. 309.95 crore on JK Tyre and Rs. 178.33 crore on Birla Tyres, besides passing a cease and desist order. In addition, a penalty of Rs. 0.084 crore was also imposed on ATMA.

👉 This case was initiated on the basis of a reference received from the Ministry of Corporate Affairs (MCA) under Section 19(1)(b) of the Act.

👉 Earlier, the said order of the CCI had been kept in sealed cover as per the directions of the Hon’ble Madras High Court, issued in W.A. No. 529 of 2018, preferred by MRF Limited. Thereafter, the Division Bench of the Hon’ble Madras High Court vide an order dated 06.01.2022, dismissed the aforesaid writ appeal.

👉 Aggrieved with the same, the tyre companies preferred SLPs before the Hon’ble Supreme Court, which were dismissed vide its order dated 28.01.2022.

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