EU slaps $32 million fine on Canon for jumping gun on Toshiba deal
Friday, June 28, 2019, 6:02 PM
The European Commission has imposed an around $32-million fine on Japanese multinational corporation Canon for partially implementing its acquisition of Toshiba's medical systems arm before notification and merger control approval. Canon said in a statement it "disagrees with the European Commission's legal assessment, which violates fundamental principles of law". It added it would appeal the fine.
Porsche fined 535 million euros over diesel cheating
Wednesday, May 8, 2019, 11:20 AM
German luxury carmaker Porsche has been fined 535 million (over Rs.4,100 crore) by public prosecutors for lapses in supervisory duties which allowed the company to cheat diesel emissions tests. Porsche, a unit of Volkswagen Group, said it would not file an appeal against the penalty. So far the total costs of "dieselgate" for Volkswagen have exceeded 30 billion.
Oil Companies Fined Rs.1Cr For Not Complying With Anti-Pollution Norms
Saturday, December 15, 2018, 12:08 PM
The Central Pollution Control Board has fined Rs.1-crore each on three oil companies for their failure to install anti-pollution "vapour recovery" systems at fuel stations. The fine has been slapped on public sector oil firms BPCL, HPCL and IOC. Vapour recovery device is an instrument to capture displaced vapours that emerge from inside a vehicle's fuel tank while filling petrol or diesel in it.