India conducts antitrust raids on tyre companies Ceat, Apollo, Continental-sources
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NEW DELHI - India's antitrust body on Wednesday raided the offices of tyre companies including India's Ceat, Apollo Tyres and Germany's Continental AG in an alleged case of competition law violations, four sources with direct knowledge told Reuters.
The raids were being conducted by the Competition Commission of India (CCI) officers across multiple cities, the sources said.
Apollo and Continental did not immediately respond to a request for comment, while calls and messages to Ceat spokespersons went unanswered.
One of the sources said the case relates to an antitrust probe into use of unfair trade practices and rigging bids while supplying tyres for public transport vehicles in the northern state of Haryana.
Reuters reported in 2020 the CCI was conducting an investigation following a complaint from the Haryana state government. (https://reut.rs/3JQHvJe)
More News
US court approves Apple's $50 mn butterfly keyboard settlement
