Publishers' Association Penalized for Unfair Trade Practices
The Competition Commission of India (CCI) has fined the Federation of Publishers' and Booksellers' Association in India (FPBAI) and three office-bearers for anti-competitive practices, including fixing conversion rates and imposing trade terms on members. CCI imposed penalties of Rs 6.33 lakh and mandated FPBAI to promote competition law awareness.
- Country:
- India
The Competition Commission of India has imposed penalties on the Federation of Publishers' and Booksellers' Association in India (FPBAI) for engaging in unfair trade practices.
According to CCI, the association was found guilty of fixing high conversion rates and establishing restrictive trade terms that were detrimental to fair competition among its member publishers and booksellers.
Penalties totaling Rs 6.33 lakh were levied against FPBAI and its office-bearers, alongside directives to enhance awareness of competition laws and retract all anti-competitive circulations.
(With inputs from agencies.)
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