Apollo Tyres, Ceat to Challenge Competition Commission Order

Apollo Tyres and Ceat will challenge the Competition Commission of India (CCI)’s Rs 1,788-crore fine and cease-and-desist order on five tyre companies— Apollo, Ceat, Birla Tyres, MRF and JK Tyres—and their lobby Automotive Tyre Manufacturers Association (ATMA) over charges of cartelisation. Apollo Tyres said, “The company does not agree with the findings of the Commission and will take necessary steps under the law to appeal against the order after a more detailed examination of the full order.” Ceat, too, said it will take appropriate legal course as there has been no wrongdoing on its part.