SIGN IN SUBSCRIBE

News Update

PM-STIAC discusses accelerating Industry-Academia Partnership for Research and InnovationIndia, Singapore hold dialogue over cyber policy44 bids received under 10th Round of Commercial Coal Mine AuctionsCops arrest former Dy PM of Nepal in cooperative fraud casePuri highlights India's Petrochemical potential at India Chem 2024UN reports record high cocaine production in ColombiaMinister unveils 'Aviation Park' showcasing India's Aviation HeritageED finds PFI wanted to start Islamic movement in IndiaBlocking Credit - Rule 86ASEBI says investors can use 3-in-1 accounts to apply online for securitiesI-T- Penalty u/s 271(1)(b) need not be imposed when assessee moved an adjournment application & later complied with notice u/s 142(1): ITAT4 Kanwariyas killed as vehicle runs over them in Banka, BiharI-T- Accounting principles do not prescribe maintaining of a day-to-day stock register, and the books of accounts cannot be rejected on this basis alone: ITATUN food looted and diverted to army in EthiopiaCus - Alleged breach of conditions for operating public bonded warehouse; CESTAT rightly rejected allegations, having found no evidence of any such breach: HCUS budget deficit surges beyond USD 1.8 trillionST - Onus for proving admissibility of Cenvat Credit rests with service provider under Rule 9(6) of the Cenvat Credit Rules, 2004: CESTATIf China goes into Taiwan, Trump promises to impose additional tariffsRussians love Indian films; Putin lauds BollywoodCus - Classification of goods is to be determined in accordance with Customs Tariff Act & General Interpretative Rules; Country-of-Origin Certificate may offer some guidance, but cannot solely dictate classification: CESTATCus - Benefit of such Country-of-Origin certificates cannot be denied if all relevant conditions are met under the applicable Customs Tariff rules: CESTATCuban power grid collapses; Country plunges into darknessCus - As per trite law, merely claiming a classification or exemption does not constitute mis-declaration or suppression - any misclassification does not equate to willful intent to evade duty: CESTATKarnataka mulling over 2% fee on aggregator platforms to bankroll gig worker welfare fundCus - Extended limitation cannot be invoked in case of assessee who is a regular importer with a consistent classification approach: CESTAT
 
CCI levies Rs 6.25 Cr penalty on 11 shoe companies

By TIOL News Service

NEW DELHI, AUG 10, 2013: THE Competition Commission of India (CCI) has imposed a penalty of Rs. 625.43 Lakhs on 11 Companies in a case filed by Director General-Supplies & Disposal (DGS&D), New Delhi relating to a tender for supply of polyester blended duck ankle boots rubber sole. CCI found these 11 Companies to have violated the provisions of Competition Act, 2002 which deals with anticompetitive agreements. CCI had worked out the penalty @ 5% on the average of the gross turnover for financial years 2008-09, 2009-10, and 2010-11. CCI has directed these companies to deposit the penalty amount within 60 days from the receipt of the order.

This case was initiated on a reference made by Director General-Supplies & Disposal (DGS&D), Department of Commerce, Ministry of Commerce & industry, Govt. of India, New Delhi. The reference pertained to a tender enquiry dated 14.06.2011 for conclusion of new rate contracts for polyester blended duck ankle boots rubber sole. The reference alleged bid rigging and market allocation by the suppliers while bidding against the above tender enquiry.

After a detailed investigation, Competition Commission of India held that the bidder-suppliers by quoting identical/ near identical rates had, indirectly determined prices/ rates in the Rate Contracts finalized by DG S&D and indulged in bid rigging/ collusive bidding in contravention of the provisions of section 3(1) read with section 3(3)(a) and 3(3)(d) of the Act. Further, the Commission noted that the parties had also controlled/ limited the supply of the product in question and shared the market of the product amongst themselves under an agreement/ arrangement in contravention of the provisions of section 3(1) read with sections 3(3)(b), 3(3)(c) and 3(3)(d) of the Act.

Accordingly, CCI directed the contravening parties to cease and desist from indulging in such anti-competitive conduct in future. The Commission also imposed a penalty on each of the contravening company at the rate of 5% of the average turnover of the company.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri Samrat Choudhary, Hon’ble Deputy CM & FM of State of Bihar, delivering inaugural speech at TIOL Tax Congress 2024.

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Justice A K Patnaik, Mentor to Hon'ble Jury for TIOL Awards 2024, addressing the gathering at the event.

TII LATEST

TIOLCORPLAWS LATEST