CCI imposes Rs 1 cr fine on Kingfisher Airlines

New Delhi: Competition watchdog CCI has imposed a fine of Rs 1 crore on Kingfisher Airlines for not furnishing information it sought during the investigation into the carrier's proposed strategic agreement with another private player 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," a senior Competition Commission of India (CCI) official told media.
When contacted, the airline said 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.
Earlier, the airline had challenged the jurisdiction of CCI to inquire into the strategic agreement with Jet in the Bombay High Court and in the Supreme Court.
21/11/10 Economic Times

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Categories: Kingfisher Nov 2010