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

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