NCLAT sets aside Rs 17.88 bn penalty imposed by CCI

05 Dec 2022 CW Team

The National Company Law Appellate Tribunal (NCLAT) has set aside the Rs 17.88 billion penalty imposed on five tyre companies by the Competition Commission of India (CCI) for cartelization.

The division bench of Justice Rakesh Kumar (judicial member) and Ashok Kumar Mishra (technical member) issued its decision on a batch of appeals against the CCI order filed by Apollo Tyres, MRF, CEAT, JK Tyre, and Birla Tyres, as well as their association Automotive Tyre Manufacturers Association (ATMA).

The appellate tribunal overturned the penalties and remanded the case to the Commission for further review. Previously, NCLAT had reserved its decision in the nearly decade-old case.

The issue arose from a representation made to the Ministry of Corporate Affairs in 2013 by the All-India

Also Read
REC and PFC signs MoU for the fiscal year 2022-23
Jharkhand to be solarised by 2023

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..