The Indian Competition Commission (CCI) on Wednesday said he had imposed RS 425.53 Crore on Tire Apollo, RS 622.09 Crore on MRF, RS 252.16 Crore on Ceat, Rs 309.95 Crore on Birca Tires to pamper themselves in cartelization.

In addition, a fair market regulator passes “stop and stop” against them.

As of August 31, 2018, CCI has made a decision on their tire companies and associations, the association of automotive tire producers (Atma) to pamper the cartelization of tire prices.

The punishment of RS 0.084 Crore was also charged in the association.

The case of these companies was initiated based on references received from the Ministry of Corporate Affairs, based on representations made by the Indian Tire Dealer Federation.

“The commission notes that tire manufacturing has exchanged price sensitive data between them through their association platform, that is, the association of automotive tire producers (Atma), and has taken collective decisions about tire prices,” said the regulator in a statement.

Also, the Commission found that the ATM collected and compiled information relating to corporate-wise data and segments on production, domestic sales and export tires in real-time, added that sharing sensitive information such as making ordination easier among tire producers.

The action is contrary to relevant actions, which prohibit anti-competitive agreements including cartelization.