Competition Commission of India (CCI) has imposed a penalty of 420 crore rupees on automobile manufacturer Hyundai Motor India for unfair trade practices. The Commission found that the company is guilty of indulging in anti-competitive practices as it did not make genuine spare parts freely available in the open market. <br/><br/>CCI imposed a penalty of 2 per cent of the average annual turnover for three financial years in India. As per the 58-page order issued yesterday, company has to deposit the penalty within two months.<br/><br/>This follows penalties totaling around 2,545 crore rupees imposed on 14 other car makers in August last year in the same case.<br/><br/>
News On AIR | July 29, 2015 7:27 AM
CCI imposes penalty of Rs 420 cr on Hyundai Motor India for unfair trade practices