08-08-2013
CCI Imposes Penalty On 11 Shoe Companies
The Competition Commission of India (CCI) has imposed a penalty of Rs. 625.43 Lakhs on 11 Companies 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 anti-competitive 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.
SOURCE: www.corporatelawreporter.com
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