The Competition Commission decided not to levy penalty on Panasonic Energy India Co Ltd in a cartelisation case related to the dry-cell market, invoking the Lesser Penalty provisions for the third time for the segment, a release said.
The Competition Commission of India (CCI) passed a final order imposing penalty on Panasonic Energy India Co. Limited and Godrej and Boyce Manufacturing Co. Limited for colluding to fix prices of zinc-carbon dry cell batteries in India, the Corporate Affairs Ministry said Thursday.
In respect of Panasonic, the CCI granted 100 per cent reduction in penalty by invoking the provisions of Section 46 of the Competition Act, 2002.
Under the Section 46 of the Act, an applicant is eligible to get the penalty reduced up to 100 per cent in cartelisation cases if the entity makes a vital disclosure by submitting evidence of a cartel under Lesser Penalty norms.
The competition watchdog imposed a penalty of Rs 31.76 crore on Panasonic and Rs 85 lakh on Godrej and ...
