BackHindustan Motors examining CCI order, says will take appropriate steps
Automobile maker says preliminary observation of CCI order is that there would not be any material impact on it
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Chennai: Automobile maker Hindustan Motors on Thursday said it is examining the order by the Competition Commission of India (CCI) levying a fine of ₹ 13.85 crore on the company, and would take “appropriate steps" to protect its interest in this regard.
Hindustan Motors, the manufacturers of the famous Ambassador range of cars, in a BSE filing, said, “the company is one of the parties against which the order has been issued. The Competition Commission of India has levied a fine of ₹ 13.85 crore on the company."
“The company came to know about the judgement of CCI only through print media as there was no prior date intimated by CCI for pronouncing judgement," it said.
“The company has not received any formal certified copy of the judgement. Further, the company is examining the order as appearing on the website of CCI and will take appropriate steps as may be advised to protect its interest," it said. However, the company said preliminary observation of the order was that there would not be “any material impact" on it.
In the first major order against the auto sector, the Competition Commission has recently slapped a penalty of ₹ 2,545 crore on 14 car makers, including Maruti Suzuki and Tata Motors, for violating trade norms in the spare parts and after services market.
Honda Siel Cars India, Volkswagen India, Fiat India Automobiles, BMW India, Ford India, General Motors India, Hindustan Motors, Mahindra and Mahindra, Mercedes-Benz India, Nissan Motor India, Skoda Auto India and Toyota Kirloskar Motor have also been penalized.
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