https://www.oann.com/india-conducts-antitrust-raids-on-tyre-companies-ceat-apollo-continental-sources/?utm_source=rss&utm_medium=rss&utm_campaign=india-conducts-antitrust-raids-on-tyre-companies-ceat-apollo-continental-sources

FILE PHOTO: An employee works inside the warehouse at the Apollo Super Zone showroom in Mumbai October 8, 2013. REUTERS/Danish Siddiqui

March 30, 2022

By Aditya Kalra and Aditi Shah

NEW DELHI (Reuters) – India’s antitrust body on Wednesday raided the offices of tyre companies including India’s Ceat, Apollo Tyres and Germany’s Continental AG in an alleged case of competition law violations, four sources with direct knowledge told Reuters.

The raids were being conducted by the Competition Commission of India (CCI) officers across multiple cities, the sources said.

Apollo and Continental did not immediately respond to a request for comment, while calls and messages to Ceat spokespersons went unanswered.

One of the sources said the case relates to an antitrust probe into use of unfair trade practices and rigging bids while supplying tyres for public transport vehicles in the northern state of Haryana.

Reuters reported in 2020 the CCI was conducting an investigation following a complaint from the Haryana state government.

(Reporting by Aditya Kalra and Aditi Shah in New Delhi; Additional reporting by Abhirup Roy; Editing by Sanjeev Miglani)

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