King will pay the fine! CCI imposed Rs 1crore fine on Kingfisher Airlines

Nov. 22, 2010 - PRLog -- The Competition Commission of India (CCI) has levied Rs 1 Crore ($220,000) fine on Kingfisher Airlines for not furnishing adequate data in the CCI’s investigation of the airline’s alliance with Jet Airways.

A senior CCI official said, “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”. more info: http://www.cheapairticketsindia.com/kingfisher-airlines.html

Replying to this statement, a senior Kingfisher representative said, “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.”

According to the Competition Act 2002, Under section 44 (b), “if any person, being a party to a combination, “omits to state any material particular knowing it to be material, such person shall be liable to a penalty which shall not be less than rupees fifty Lakhs but which may extend to rupees one Crore, as may be determined by the Commission”.

About Kingfisher Airlines: Kingfisher Airlines is the India based airline that operates more than 375 daily flights to 71 destinations, with regional and long-haul international services. Kingfisher Airlines was established in the year 2003. It is owned by the Bangalore based United Breweries Group. Kingfisher is also the sponsor of F1 racing outfit, Force India, in which Vijay Mallya also owns.
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