Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / CCI imposes fine on Jet, SpiceJet, IndiGo
  • Business

    CCI imposes fine on Jet, SpiceJet, IndiGo

    Kartikeya Jain
    Written by
    Kartikeya Jain
    Mail
    Last updated on Nov 18, 2015, 11:46 am
    CCI imposes fine on Jet, SpiceJet, IndiGo
    Credits:
  • In a bid to clamp down on cartelisation over fixing fuel surcharge on air cargo, Competition Commission of India (CCI) imposed penalties worth Rs.258 crore on three airlines.

    Jet Airways was fined Rs.151.69 crore, IndiGo was fined Rs.63.74 crore and a fine of Rs.42.48 crore was imposed on SpiceJet.

    Spokespersons of all fined companies said they may challenge the verdict in court.

  • In this article
    What is CCI? Difference in date of establishment and functioning Few notable cases CCI imposes fine on Jet, SpiceJet, IndiGo What is cartelisation? What was the case? Such violations hurt India's economy: CCI
  • Introduction

    What is CCI?

    What is CCI?
  • Competition Commission of India was established on 14 October 2003 as a Government of India body.

    It was responsible for enforcing the Competition Act 2002 throughout India.

    The act prohibits mergers and acquisitions which can cause an adverse effect on competition in India.

    It is the duty of the commission to protect the interests of customers and ensure freedom of trade in the market.

  • Information

    Difference in date of establishment and functioning

  • Though CCI was established in October 2003, it became fully functional only in May 2009 with Dhanendra Kumar as its first Chairman.

  • Cases

    Few notable cases

    Few notable cases
  • In June 2012, CCI had imposed a fine of Rs.63.07 billion on 11 cement companies for fixing prices, controlling market share and holding back supply to earn illegal profits.

    In February 2013, CCI fined BCCI for Rs.522 million after finding out that the IPL team ownership agreements were unfair and discriminatory leaving franchises with no say in the contract.

  • 18 Nov 2015

    CCI imposes fine on Jet, SpiceJet, IndiGo

    CCI imposes fine on Jet, SpiceJet, IndiGo
    Credits:
  • In a bid to clamp down on cartelisation over fixing fuel surcharge on air cargo, Competition Commission of India (CCI) imposed penalties worth Rs.258 crore on three airlines.

    Jet Airways was fined Rs.151.69 crore, IndiGo was fined Rs.63.74 crore and a fine of Rs.42.48 crore was imposed on SpiceJet.

    Spokespersons of all fined companies said they may challenge the verdict in court.

  • Information

    What is cartelisation?

  • Cartelisation is an agreement between competing firms or countries to control prices or exclude entry of a new competitor in a market.

  • 18 Nov 2015

    What was the case?

    What was the case?
  • Express Industry Council of India (EICI) had filed a complaint alleging cartelisation by five-airlines which was in violation of section 3 of the Competition act.

    No penalty was imposed on AirIndia and GoAir as their conduct was not found to be in contravention with the act.

    The other three were fined for concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.

  • 18 Nov 2015

    Such violations hurt India's economy: CCI

    Such violations hurt India's economy: CCI
  • Criticizing the airlines, CCI said that such violations in the air cargo industry hurt the economic development of the country.

    CCI said that the basic concern was the overcharging of cargo freight under the garb of fuel surcharge.

    The commission said that such conduct does disservice to the consumers.

    It added airlines' insecure financial position was considered while imposing the fine.

Latest News
  • Golden Globes 2021: 'The Crown,' 'Schitt's Creek' win big
    Golden Globes 2021: 'The Crown,' 'Schitt's Creek' win big
    Entertainment
  • PM Modi gets the first shot of coronavirus vaccine
    PM Modi gets the first shot of coronavirus vaccine
    India
  • Coronavirus: India's tally reaches 11.11 million with 15K+ new cases
    Coronavirus: India's tally reaches 11.11 million with 15K+ new cases
    India
  • #HealthBytes: Carpal tunnel syndrome - its causes, symptoms, and prevention
    #HealthBytes: Carpal tunnel syndrome - its causes, symptoms, and prevention
    Lifestyle
  • Premier League, Chelsea 0-0 Manchester United: Records broken
    Premier League, Chelsea 0-0 Manchester United: Records broken
    Sports
Related Timelines
  • End of TikTok's woes? Trump approves Oracle's bid for TikTok
    End of TikTok's woes? Trump approves Oracle's bid for TikTok
    Business
  • Oracle wins TikTok US bid, but not for 'full sale'
    Oracle wins TikTok US bid, but not for 'full sale'
    Business
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani Gross Domestic Product
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021