SC Upholds Rs. 1788 Crores Penalty by CCI on Tyre Manufacturers

The SC dismissed the SLP, filed by 5 tyre manufactures, against Rs. 1788 Crores penalty order of CCI, kept in sealed cover till now.

The CCI had penalised the 5 tyre manufacturers and Automotive Tyre Manufacturers Association (‘ATMA’) for cartelisation by acting in concert to increase the prices of cross ply/bias tyres variants sold by each of them in the replacement market and to limit and control production and supply in the said market.