Competition Commission today imposed a penalty of Rs 87 crore on Hyundai Motor India for unfair business practices with respect to providing discounts for passenger cars. This was done through discount control and penalty mechanisms for non-compliance of the discount scheme, it added. Hence, for the purposes of determining the relevant turnover for this infringement, revenue from sale of motor vehicles alone has to be taken into account," CCI noted. The watchdog has slapped a fine of Rs 87 crore on the car maker. Following two separate complaints, the regulator had ordered a detailed by its investigation arm DG (Director General) in 2014.

Source: dna June 14, 2017 15:45 UTC