Minister of State for Company Affairs Rao Inderjit Singh has advised John Brittas within the Rajya Sabha that the Competitors Fee of India (CCI) has fined tire firms, together with MRFs, below the Monopoly Management Act.
MRF was fined Rs 625.09 crore, Apollo Tires Rs 425.53 crore, Seattle Rs 252.16 crore, JK Tires Rs 309.95 crore, Birla Tires Rs 178.33 crore and Automotive Tire Producers Affiliation Rs 8.41 lakh. Penalty for compromising on tire worth. The Monopoly Management Act, 2002 supplies for fines not exceeding 10 per cent of the typical earnings for the third monetary 12 months. The positive has not been lowered, he mentioned.
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