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English Release 25-May 2013
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- Presidents Secretariat
- President calls upon every University to identify at least one Department that can be made into a Centre of Excellence
- Speech by the Hon’ble President at the Inauguration of Maharaja Agrasen University,Solan, Himachal Pradesh, on May 25, 2013
- Min of Defence
- Shri R K Mathur takes over as the New Defence Secretary
- Min of Law & Justice
- Government to go in for a Stand-Alone Central Legislation to Curb any Dishonest Activity in Sports
- Min of Youth Affairs & Sports
- Conference of Ministers and Secretaries of States and Union Territories in-Charge of Sports & Youth Affairs Concludes in New Delhi
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Ministry of Corporate Affairs10-April, 2012 15:53 IST
| CCI imposes a penalty of Rs.5.66 crores on Schott glass India Pvt. Ltd. |
Competition Commission of India (CCI) has imposed a penalty of Rs.5.66 crores on Schott Glass India Private Limited (Schott India) for violating the provisions of the Competition Act. The Commission in its order has held that Schott India has abused its dominant position in the industry by imposing unfair and dissimilar discounts which has resulted in an adverse impact on the converters in the downstream market.
The order was passed by the Commission on a complaint filed by Kapoor Glass alleging that Schott Glass India drove out competitors by selling Borosilicate glass tubes at a very low prices. After investigations, CCI came to the conclusion that due to the abusive act and conduct of Schott Glass India, the small converters are not able to compete on equal footing. Accordingly, the Commission has decided to impose penalties for distorting competition in the market. The Commission has also issued following cease and desist order:
1. The Schott India should desist from applying dissimilar conditions while giving discounts to Schott Kaisha vis-à-vis other converters.
2. The terms of transactions for supply of tubes to Schott Kaisha, the JV should be similar and non-discriminatory vis-à-vis the other converters.
3. The discount on both Amber and Clear Tubes should not be contingent upon sale of each other.
The penalty of Rs.5.66 cores imposed by the Commission was based on a rate of 4% on the average of 3 years turnover of Schott Glass India.
“A copy of the detailed order of the Commission can be seen at www.cci.gov.in”
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RC/JR
(Release ID :82146)
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