Hyundai Have to pay 420 crore to CCI:
Famous cars manufacturing company Hyundai Company got fined up to 420 crore by Competition commission of India. CCI ordered that whole amount should pay within 60 days. The main reason behind this is Hyundai spaceports are not available in outside market.
CCI announced that 2 percent fine fixed for 3 years turnover. CCI Fines 14 car manufacturing companies in last year augest with total 2,554 crores. Maximum of companies got stay from court.
According to sources TATA Group of motors 1.346 crores of fine, Maruthi Suzuki having 471 crores of fine.court ordered that companies have to cooperate with CCI Interrogation.
According to CCI, without selling spareparts in the outside market they sell 28 to 644 percent maximum rate.