Deal Street

August 16, 2019

Somasekhar Sundaresan, Nisha Kaur Uberoi got 100% immunity to NSK for cartelization of Electric Power Steering (EPS)


[ by Legal Era News Network ]

Somasekhar-Sundaresan-&-Nisha-Kaur-Uberoi

The Competition Commission of India passed a final order penalizing NSK Limited (NSK), its Indian joint venture Rane NSK Steering Systems (“RNSS”) along with JTEKT Corporation (“JTEKT Japan”) and its Indian joint venture JTEKT Sona Automotive India Limited (“JSAI”) with respect to cartelization of Electric Power Steering (EPS).

The case was initiated on the basis of an application received by the CCI under Section 46 of the Competition Act, 2002 and was read with Competition Commission of India (Lesser Penalty) Regulations, 2009. During the pendency of the investigation,

The CCI concluded that both NSK and JTEKT Japan had directly and indirectly been determining price, in relation to the supply of EPS Systems, allocating markets and been in contact with each other in relation to global tenders floated by car manufacturers. In its order dated August 9, the CCI imposed a fine of Rs 17.07 crore on JTEKT and its Indian subsidiary JTEKT India Ltd. Also, a fine of fine of Rs. 31.34 lakh was imposed on JTEKT's seven officials.

JTEKT and JSAI were granted 50% reduction on the penalty imposed in view of their co-operation with the CCI investigation.

This is 10th leniency order passed by the CCI involving an application under the Lesser Penalty Regulations 2009 and the 5th order where the CCI has granted full immunity to a leniency applicant (NSK).

NSK Japan was represented by litigating counsel, Mr. Somasekhar Sundaresan with the Trilegal team comprising Nisha Kaur Uberoi, Partner and National Head, Competition Law, Shravani Shekhar, Senior Associate, Mathew George and Varun Thakur, Associates before the CCI.

AZB Partners represented JTEKT.

Related Post

latest News

  • Highlights of New Delhi International Arbitration Centre Bill, 2018 passed by Lok Sabha

    On January 4, the Lok Sabha passed a bill [New Delhi International Arbitration Centre Bill, 2018] to set up a new international arbitration centre in ...

    Read More
  • Directorate Of Revenue Intelligence Tells The Bombay High Court That Adani Firm Is Trying To Impede Its Investigation

    Adani Enterprises Ltd (AEL) is trying to “impede” a Directorate of Revenue Intelligence (DRI) investigation into a few Adani Group firms, by chall...

    Read More
  • Transfer Pricing Adjustment on Interest Which Has Neither Been Received Nor Accrued To The Assessee Cannot Be Chargeable: ITAT

    The assessee TMW ASPF CYPRUS (assessee), a private limited company incorporated in Cyprus was engaged in the business of making investments in the rea...

    Read More
shares