New Delhi
The anti-trust body, however, exempted NSK from a penalty as it was the first to approach the CCI as a “lesser penalty” applicant and had provided “complete, true and full disclosures”.
“In view of the fact that JTEKT or JSAI was the second to approach the commission as a lesser penalty applicant and had provided significant value addition in the matter, 50 pc reduction in penalty was granted to JTEKT or JSAI and its individuals. Therefore, the total penalty to be paid by JTEKT or JSAI is Rs 17,07,31,443,” CCI said.
NSK and JTEKT indulged in cartelisation in supply of EPS systems to 3 auto OEMs by means of directly or indirectly determining price, allocating markets, co-ordinating bid response and manipulating the bidding process in request for information or request for quotations issued by these 3 automobile OEMs during 2005-2011.
Visit news.dtnext.in to explore our interactive epaper!
Download the DT Next app for more exciting features!
Click here for iOS
Click here for Android