CURRENT AFFAIRS

Detailed explanation-1: -Detailed Solution. The correct answer is Bridgestone Tyres.

Detailed explanation-2: -Non-compliance of CCI directions issued under Section 36(2)/(4) or non-adherence to the directions issued by a Director General (without sufficient cause for the same) is punishable with a fine of Rs. 1, 00, 000 for each day of default, subject to a maximum of Rs. 10 million.

Detailed explanation-3: -A two-judge bench headed said that the 10 percent deposit made earlier by the cement companies will continue. The Supreme Court today stayed the Rs 6, 300-crore penalty that was imposed on cementmakers by the Competition Commission of India over allegations of cartelisation.

Detailed explanation-4: -The Competition Act, 2002 (act), gives wide discretion to the Competition Commission of India (CCI) to penalise enterprises and individuals for engaging in anti-competitive practices. Under section 27(b), the CCI can impose a penalty of up to 10% of the average turnover for the past three preceding financial years.

Detailed explanation-5: -It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.