KINGFISHER AIRLINES FINED BY COMPETITION REGULATOR

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By TESTCustomwebLP TESTCustomwebLP November 22, 2010 21:10

KINGFISHER AIRLINES FINED BY COMPETITION REGULATOR

Indian competition watchdog, Competition Commission of India (CCI), has fined Kingfisher Airlines Rs 1 crore for not supplying information requested by CCI following the airline’s proposed strategic agreement with Jet Airways.

“Kingfisher Airlines has not furnished certain information that the Director General (Investigations) had asked for while probing the case, so we have imposed a fine of Rs 1 crore on Kingfisher for non-compliance,” said a senior CCI official.

Kingfisher, however, maintains it had provided all available information to the CCI and was seeking legal advice on the matter.

“Pursuant to legal advice, the company withdrew the special leave petition filed in the Supreme Court and immediately thereafter and prior to the hearing of the show cause notice, provided all information available with it to the CCI. In spite of this, the CCI imposed the said fine on the company. The company is obtaining legal advice,” Kingfisher Airlines said in a statement.

The CCI has been investigating the proposed link up between kingfisher and Jet due to monopoly issues.

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By TESTCustomwebLP TESTCustomwebLP November 22, 2010 21:10
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