India-bound 2024 Hyundai Alcazar Facelift Spied In South Korea
- Apr 2, 2024
- Views : 3470
The Competition Commission of India (CCI) had penalised Hyundai Motor India with a sum of Rs 420 crore after having found the company guilty of unfair trade practices. However, according to reports the panel has rolled back the penalty until a court decides on an appeal filed by the Indian unit of the Korean automaker.
The panel had fined the Korean carmaker after having found it guilty of indulging in anti-competitive practices which includes not making genuine spare parts freely available in the market. The fine was calculated at two per cent of average turnover and Hyundai was asked to deposit the penalty within 60 days from the receipt of the order to the panel. CCI had also asked the company to cease and desist from such practices.
Hyundai had, however, challenged this ruling of CCI before the Madras high court which granted it a stay. The panel’s decision to stall the fine it imposed on Hyundai comes in after the Korean carmaker initiated contempt proceedings against CCI for violating an April 13, 2015 order by the Madras high court that stated that CCI will reserve any order in the case until the court decides on an appeal filed by the automaker.
The panel has now stated that the order passed by the regulator was on account of a communication gap and would not be enforced till the disposal of the appeal filed by the Korean carmaker.
India-bound 2024 Hyundai Alcazar Facelift Spied In South Korea
Hyundai Creta N Line vs Volkswagen Taigun GT Plus Sport: Differences...
Hyundai Creta EV Possible India Debut Timeline Revealed
Hyundai Creta Waiting Period Detailed: Wait Up To 4 Months In These...
Hyundai Creta EV Spied In South Korea Revealing Its Revised Front...
Check Out What The Base N8 Variant Of The Hyundai Creta N Line Packs
Hyundai Creta N Line Vs i20 N Line And Venue N Line: Differences...
Check Out The Exhaust Note Of The Hyundai Creta N Line In Our...
Watch Video: All The Differences Between The Hyundai Creta N Line And...
Are Maruti Suzuki’s Strong Hybrid Powertrains The Best Engine...
India's largest automotive community