CCI imposes Rs 17 cr fine on JTEKT Corp, its Indian arm, for cartelisation
The Competition Commission of India has imposed more than Rs 17 crore fine on Japan’s JTEKT Corp and its Indian subsidiary for cartelisation with NSK Ltd in supply of electric power steering systems to automotive manufacturers.
The regulator decided not to impose any penalty on NSK and its Indian subsidiary as the company had submitted the evidence about the cartel.
The case was taken up by the watchdog after NSK approached it under lesser penalty regulations.
A detailed probe revealed that NSK and JTEKT as well as their Indian subsidiaries — RNSS and JSAI respectively — indulged in cartelisation in the EPS systems market for at least six years (from 2005 to July 25, 2011).
