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The story of a Rs 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. ....

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The story of a INR 1,788 crore fine: Tyre makers, cartelisation and calculation errors, ET Auto

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. ....

Tamil Nadu , Ashok Kumar Mishra , Justice Sanjiv Khanna , Justice Rakesh Kumar , Madras High Court , National Company Law Appellate Tribunal , Ministry Of Corporate Affairs , Apollo Tyres , High Court , Automotive Tyre Manufacturers Association , Supreme Court , India Tyre Dealers Federation , Competition Commission Of India , Competition Commission , Corporate Affairs , All India Tyre Dealers Federation , Competition Act , Director General , Correlation Coefficient , Mrf Ltd , Indian Tyre Tax Scam , India Tyres , Indian Tyre Companies , Srf Stock , Tyre Companies Tax Penalties , Tax Scams ,

CEAT's Q4 profit trebles to ₹153 crore - The Hindu BusinessLine

CEAT’s Q4 profit trebles to ₹153 crore
May 05, 2021
Anant Goenka, MD, CEAT Ltd×
Tyre-maker reports a revenue of ₹2,290 crore
CEAT Limited, an RPG Group company, has reported a three-fold growth in profits to ₹153 crore in the fourth quarter ended March 31, 2021 compared to ₹52 crore for the corresponding period last year. Revenues increased to ₹2,290 crore (₹1,577 crore).
Anant Goenka, Managing Director, CEAT Limited, said: “It has been a satisfactory year with record sales, especially in a year marked with uncertainty because of Covid-19.We gained market share in the Passenger Car Radial (PCR) and Truck Bus Radial (TBR) segment, encouraged by which we added new capacity to the TBR segment.” ....

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