Considering the present stage, the CCI approved the penalty waiver and submitted the penalty waiver application to extend the cooperation.

The Competition Commission of India (CCI) has penalized leading zinc-carbon battery maker Evereready with substantial reduction in Industries India, Indo National and Pasonicic Energy India. They are conspiring to adjust the prices of their products.

CCI Evereready reduced the fine against Eveready by 30% to Rs 171.555 crore, reduced Nippo’s fine by 20% till Rs 422.61 crore and withdrew a smaller fine against Panasonic. The initial fines were Rs 245.07 crore, Rs 528.2 crore and Rs 746.8 crore respectively.

The reduction in fines was approved considering the stage of application for reduction of fines and the fact that due to the existence of cartels, the CCI is expanding cooperation by creating added value. Officials said the lighter penalty is aimed at encouraging people to go to CCI to disclose information about cartel organizations.

CCI suo motu filed a case against the battery makers under Section 19 of the Competition Act. It ruled that three battery manufacturers promoted by the industry organization, the Association of Indian Battery Manufacturers (AIDCM), had violated the AIDCM’s regulations, including price adjustment, production supply restrictions and market allocation. Competitive behavior. Bill.

“As part of the investigation, the Attorney General, in exercise of his powers pursuant to Section 41(3) of the Act, conducted simultaneous searches and seizures at the location on August 23 Eveready, Nippo and Pasonicic. In a statement, the Government said: “. Criminal materials and documents in his possession were seized. “Eveready and Nippo While the investigation is ongoing, the general investigation report is pending but contacted CCI to seek relief for the applicant. The association was fined Rs 18.5.5 lakh.