CURRENT AFFAIRS

Detailed explanation-1: -CCI fines Jet Airways, IndiGo, SpiceJet for unfair business practices. New Delhi: The Competition Commission of India (CCI) on Wednesday imposed a total fine of more than Rs54 crore on Jet Airways, InterGlobe Aviation and SpiceJet for unfair business practices with respect to fixing fuel surcharge on cargo transport.

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: -In the case of anti-competitive agreements and abuse of dominance, the CCI may impose fines of up to 10 percent of the average turnover for the last three preceding financial years upon each of such persons or enterprises that are parties to such agreements or abuse.

Detailed explanation-4: -Competition Commission of India (CCI) has recently fined Rs 202 crores on which company? Notes: The Competition Commission of India (CCI) suspended its over two-year-old approval for Amazon’s deal to acquire stake in retailer Future Coupons Private Limited.

Detailed explanation-5: -CCI imposed penalties 5% of the average turnover/ income upon the companies/ firms and their certain individuals found guilty of violating the provisions of the Act. However, benefit of reduction in penalty under the provisions of Section 46 of the Act of 100% was given to the lesser penalty applicant.