Paint manufacturers Berger Paints India and Goodlass Nerolac, who are facing charges of resorting to cheap imports of Titanium Dioxide from China, have withdrawn their appeal against anti-dumping duty slapped on them by the government.
The two companies had filed the appeal before the Customs Excise and Service Tax Appelate Tribunal after the Finance Ministry, in April 2004, asked the firms to pay countervailing duty of 1,227.60 dollars for every metric tonne of Titanium Dioxide imported by them.
Titanium Dioxide is an essential ingredient in the manufacture of low-cost paint.
"During the course of arguments, the appellant's counsel states that it seeks permission to withdraw... Appeals stand disposed," tribunal president RK Abhichadani said.
In January 2003, Thiruvananthapuram-based Titanium Dioxide Manufacturers Association had complained to the government against the cheap imports by the two companies.
Later during probe, the designated authority went through the sales record of Titanium Dioxide by industry, including Berger and Nerolac.
It was found that the price of Titanium Dioxide had dipped 30 per cent and sales of the domestic producers had also gone down.
"The domestic industry is facing price undercutting (and) as a direct result, the domesic industry has been forced to reduce its price, which is in range of 10 to 20 per cent," the probe had said.
{{/usCountry}}"The domestic industry is facing price undercutting (and) as a direct result, the domesic industry has been forced to reduce its price, which is in range of 10 to 20 per cent," the probe had said.
{{/usCountry}}They further said the evidences provided had no legal value.