April 19, 2018 / 1:32 PM / 6 months ago

BRIEF-India's CCI Reduces Penalty On Eveready, Indo National, Panasonic Energy India

April 19 (Reuters) - Competition Commission Of India:

* PASSED FINAL ORDER IMPOSING PENALTY ON THREE LEADING INDIAN ZINC-CARBON DRY CELL BATTERY MANUFACTURERS

* IMPOSED PENALTY ON EVEREADY, INDO NATIONAL, PANASONIC ENERGY INDIA, ASSOCIATION AIDCM FOR COLLUDING TO FIX PRICES OF ZINC-CARBON DRY CELL BATTERY

* REDUCED PENALTY IMPOSED UPON PANASONIC, EVEREADY AND NIPPO BY 100 PERCENT, 30 PERCENT AND 20 PERCENT RESPECTIVELY

* PURSUANT TO REDUCTION, PENALTY IMPOSED ON EVEREADY WAS 1.72 BILLION RUPEES, 422.6 MILLION RUPEES ON INDO NATIONAL AND NO PENALTY WAS IMPOSED ON PANASONIC Source text: bit.ly/2HCJsfe Further company coverage:

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