CCI fines Gujarat-based Chemist association for restrictive trade practices.
Fair trade regulator CCI has imposed a penalty on Gujarat-based Chemists and Druggists Association of Baroda for indulging in restrictive trade practices.
Besides, the Competition Commission directed the association to cease and desist from indulging in such activities in future.
The regulator found the association in contravention of Section 3 of Competition Act which pertains to anti-abusive agreements.
The ruling came on a complaint filed by Vadodara-based Vedanta Bio Sciences which alleged that association was insisting on NOC (No Objection Certificate) from it before any pharmaceutical company could appoint a stockist and was also engaged in fixation of trade margins.
After finding "prima-facie" violations of the Act, the regulator had directed its investigation arm, director general to conduct a probe.
Based on the reports, CCI found that association was mandating imposition of NOC prior to appointment of stockists.
The commission observed that the practices carried out by the ..