MRTPC slams Srichakra Tyres

NEW DELHI, JULY 18: The Monopolies and Restrictive Trade Practices Commission (MRTPC) has slammed Srichakra Tyres Ltd for indulging in trade practices that are prejudicial to public interest and asked it to discontinue the scheme of performance bonus for its dealers with immediate effect. "Any performance bonus linked with the quantity offtake is by its nature a restrictive trade practice and falls within the ambit of Section 33(1)(e) of the Act," MRTPC said . As its performance bonus scheme was only for dealers lifting 100 or more tyres and the price discount increased with higher offtake, it was disadvantageous to the small dealer, the commission said.