Connect with us

News

A penalty of $26.9 million fined against Maruti Suzuki over dealer discount policy

Adam Layaan Kurik Riza

Published

on

India’s antitrust regulator has fined a penalty of $26.9 million on Maruti Suzuki India Limited (MSIL), the company is the biggest carmaker in India. The penalty was imposed for anti-competitive practices related to how it forced dealers to discount cars, officials said Tuesday.

“CCI passed a final order against MSIL for indulging in anti-competitive conduct of resale price maintenance in the passenger vehicle segment by way of implementing discount control policy vis-a-vis dealers, and accordingly, imposed a penalty of  $26.9 million upon MSIL, besides passing a cease-and-desist order,” said a press statement issued by the Competition Commission of India (CCI).

The regulator discovered that MSIL had an agreement with its dealers in which the dealers were restrained from offering discounts to customers beyond those arranged by MSIL.

“In other words, MSIL had a discount control policy in place for its dealers whereby the dealers were discouraged from giving extra discounts, freebies, etc. to the consumers beyond what was permitted by MSIL,” the statement said.

Reports said CCI in 2019 started looking into accusations that MSIL enforced its dealers to limit the discounts they offer, thereby successfully stifling competition among them and impairing customers who could have benefited from lower prices if dealers operated freely.

The regulator said to enforce the discount control policy, MSIL appointed Mystery Shopping Agencies (MSAs) who used to pose as customers to MSIL dealerships to find out if any additional discounts were being offered to customers.

“If found offered, the mystery shopping agencies would report to MSIL management with proof (audio/video recording) who, in turn, would send an e-mail to the errant dealership,” CCI said. “If clarification was not offered by the dealership to the satisfaction of MSIL, the penalty would be imposed on the dealership and its employees, accompanied in some cases, by the threat of stopping supplies.”

Source: Xinhua News Agency

News

Judgment in Yameen’s appeal slated for tomorrow

FI

Published

on

By

High Court has scheduled the judgment in the appeal filed by former president Abdulla Yameen Abdul Gayyoom of his money laundering and bribery conviction in connection to the sale of V. Aarah for tourism development for Thursday.

The judgment will be delivered in the afternoon – however, no time has been specified on the High Court’s website.

Yameen, who served as Maldivian leader from 2013-2018, was sentenced to 11 years in prison for money laundering and bribery charges in connection to the sale of V. Aarah on December 26, 2022.

He was transferred from Maafushi Prison to his home in Male’ City on October 1, the day after President Dr. Mohamed Muizzu, backed by Yameen, won the presidential election runoff. The then-president-elect had appealed for Yameen’s release to home from then-president Ibrahim Mohamed Solih.

Short of a week into President Muizzu’s administration, Yameen left PPM, and initiated efforts to form a new party – the People’s National Front (PNF).

Maldives Correctional Service later eased the terms of his home confinement, to allow him to leave the house for exercise and other such purposes.

Yameen has repeatedly violated the terms of his home confinement by attending political events despite which no action has been taken against him by Corrections.

National Integrity Commission is presently investigating Corrections failure to take action against Yameen.

Freeing Yameen has been one of President Muizzu’s main electoral pledges. He has strongly criticized President Muizzu and his administration for his continued home confinement.

President Muizzu has recently remarked that he remains true to his pledge. Affirming he does not influence the judiciary, the President said Yameen’s independence remains in the hands of the judiciary.

Source(s): sun.mv

Continue Reading

News

FDC’s head says additional MVR 454.5m needed to complete flats

FI

Published

on

By

Hamdhan Shakeel, the managing director of Fahi Dhiriulhun Corporation (FDC), said on Wednesday that the state corporation needs an additional injection of MVR 454.5 million to complete work on the 4,000 social housing units being developed in Hulhumale’ Phase II.

In a post on X on Wednesday morning, Hamdhan said the scope of the project decided by former president Ibrahim Mohamed Solih’s administration does not include key services and facilities.

According to Hamdhan, this includes the connection of the towers to the power grid, security systems, GPON network to enable internet and other media connection for the towers and tenants, waste disposal systems, and landscaping works.

“An additional injection of MVR 454.5 million is required for the completion of this additional works left out by the previous government,” he said.

Hamdhan said the FDC is working with the incumbent administration to secure financing for the additional works.

He also highlighted on the difference in the speed of the project under the two administrations.

According to Hamdhan, a total of 216 slabs were casted over a period 22 months under the previous administration, while a total 192 slabs were casted during the past four months.

“Through optimization of the construction schedule and facilitation of resources and other services, we have increased the average rate of construction from 10 slabs per month to 48 slabs on average per month,” he said.

The 4,000 housing units are the first flats built under the ‘Gedhoruveriya’ housing scheme launched by Solih’s administration.

The units come in two types; two-bedroom apartments and three-bedroom apartments.

Source(s): sun.mv

Continue Reading

News

MPS begins Operation Blue Tide 2024 for election security

FI

Published

on

By

The Maldives Police Service (MPS) has announced the commencement of “Operation Blue Tide 2024” to safeguard security ahead of the upcoming parliamentary election.

The operation is a pivotal component of the commitment of MPS to ensuring security throughout the parliamentary election. MPS assured that police presence will be maintained across all Maldivian islands until the conclusion of the election, with a strategic system in place to allocate additional personnel where necessary. Police units have been dispersed across all regions.

As part of Operation Blue Tide, MPS disclosed that a team embarked for the southern atolls on March 16, while another set out for the northern atolls on March 17. Chief Superintendent of Police Abdulla Shareef has been designated as the operation’s commander, with Superintendent of Police Ahmed Muslim appointed as deputy commander.

Source(s): PsmNews

Continue Reading

Trending