The Competition Commission of India (CCI) has found three more car companies Hyundai, Reva and Premier guilty of involving in anti-competitive practices.
CCI has imposed a fine of Rs.420 crore on Hyundai, while absolving the other two firms from paying monetary penalty.
The instant order is in continuation of Commission’s main order in the same case in August last year, an official statement said.
Hyundai has been fined at the rate of two per cent of its three-year average India revenue, which is payable within 60 days, the regulator said.
In its order, CCI said it found some mitigating factors which worked in favour of Premier and Reva.
“It is to be noted that at the relevant time period of the investigation, all Premier cars were under warranty and as such the conduct of Premier with respect to abuse of dominance remained untested. Furthermore, Premier did not impose any restrictions on its authorised dealers to deal with vehicles of competing brands.
In the case of Reva, the Commission has noted that with respect to the agreements entered with the authorised dealers, the DG Director General) during the investigation has found that its spare parts were, to some extent, available over the counter,” it said.
“Considering the mitigating factors that worked in favour of Reva and Premier, the two car companies were absolved from paying monetary penalty,” the statement added.
