The story of a INR 1,788 crore fine: Tyre makers, cartelisation and calculation errors
The Supreme Court of India has asked the Competition Commission of India (CCI) for a response regarding an appeal filed by MRF Ltd, one of the companies fined in a case related to alleged cartelisation and price manipulation in the tyre industry. The case, which began over a decade ago, saw the CCI impose penalties on several tyre companies in 2018. However, the National Company Law Appellate Tribunal overturned the order in December 2022 and directed the CCI to pass a fresh order, citing errors in calculation and the need to save the domestic tyre industry.
Tags : mrf ltd indian tyre tax scam india tyres indian tyre companies mrf stock tyre companies tax penalties tax scams tryres apollo tyre jk tyre apollo tyres ceat ltd birla tyres Competition Commission of India All India Tyre Dealers Federation
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