spot_img
Tuesday, June 28, 2022
No menu items!
More
    spot_img
    HomeBusinessCCI penalises seven companies for bid rigging, cartelisation in Railways tender

    CCI penalises seven companies for bid rigging, cartelisation in Railways tender

    -

    Companies

    The Competition Commission of India (CCI) has penalised seven companies for indulging in cartelisation and influencing bid price of a tender launched by the Indian Railways.

    Also, as many as ten individuals of these seven entities were held by the CCI to be liable for the anti-competitive conduct of their respective companies/firms

    The case was initiated on the basis of a lesser penalty application filed by one of the cartelising entities.

    Under Section 46 of the Competition Act, a cartel member may approach the Commission by way of filing an application seeking lesser penalty, in return for providing full, true and vital disclosures in respect of the alleged cartel to the Commission.

    The cartelisation was related to the supply of protective tubes to the Indian Railways by means of directly or indirectly determining prices, allocating tenders, controlling supply and market, co-ordinating bid prices and manipulating the bidding process. 

    The evidence in the matter included regular e-mail communications between the parties and filing of bids from same IP addresses by certain parties, etc., an official release said. 

    The CCI imposed penalties constituting five percent of the average turnover of the companies and individuals found guilty of violating provisions of the Competition Act. The CCI, however, did not reveal the identities of the companies or the persons.

    Published on June 09, 2022

    You May Also Like

    Recommended for you

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay Connected

    0FansLike
    0FollowersFollow
    3,367FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts