India conducts antitrust raids on tyre companies Ceat, Apollo, Continental
India’s antitrust body on Wednesday raided the offices of tyre companies including India’s Ceat (CEAT.NS), Apollo Tyres (APLO.NS) and Germany’s Continental AG (CONG.DE) in an alleged case of competition law violations, four sources with direct knowledge told Reuters.
The raids were being conducted by the Competition Commission of India (CCI) officers across multiple cities, the sources said.
Apollo and Continental did not immediately respond to a request for comment, while calls and messages to Ceat spokespersons went unanswered.
One of the sources said the case relates to an antitrust probe into use of unfair trade practices and rigging bids while supplying tyres for public transport vehicles in the northern state of Haryana.
