CCI rejects complaint against HeroMotoCorp

Tags: News
The Competition Commission has rejected allegations of unfair business practices against HeroMotoCorp related to an earlier dealership in Karnataka.

Disposing of the complaint against HeroMotoCorp Ltd, the fair trade regulator said the allegations made have no bearing upon competition in the markets.

"The information appears to be a family business and contractual feud which has been sought to be projected as a competition issue.

"The informant has made various allegations relating to cartel, collusive bid rigging and refusal to deal etc without in any manner, whatsoever, explaining the basis much less substantiating the same," the Commission said in the order dated March 11 but released today.

One Maheshwar V Hiremath filed the complaint on behalf of Revanasiddeshwar Automobiles (SRA), which is in Belgaum district of Karnataka. He described himself as power of attorney holder of SRA.

As per the order, the information filed by Hiremath purportedly on behalf of SRA is wholly misconceived.

"It appears that Maheshwar V Hiremath, through the instant information, after getting himself inducted into SRA without any intimation or approval to/from Opposite Party 1 (HeroMotoCorp Ltd) is seeking OP 1 to continue dealership in favour of SRA, which ceased to exist w.E.F 6.11.2012," it added.

EDITORIAL OF THE DAY

  • Stricter deterrent must to force defiant promoters to buy back shares

    The Securities and Exchange Board of India’s (Sebi’s) decision to delist companies that have been suspended from trading on stock exchanges for mo

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture