CCI rules out cartelisation among steel producers to hike price
CCI closed the case against the steel producers as it did not find sufficient evidence to prove cartelisation
New Delhi: Citing lack of evidence, the Competition Commission of India (CCI) has closed a case in which steel producers, including Steel Authority of India Limited (SAIL), Rashtriya Ispat Nigam Limited (RINL) and Tata Steel, were alleged to have cartelised and colluded in unfair trade practices.
The order on the case was passed on 9 January but released on Monday.
The case, which was initiated in 2008, alleged that government and non-state steel companies had colluded to increase prices.
CCI closed the case as it did not find sufficient evidence to prove cartelisation despite investigating the case twice.
The case had initially been registered by the Monopolies and Restrictive Trade Practices Commission (MRTPC), which predated the CCI.
The MRTPC had taken note of media reports and registered a case against 34 companies. Other important companies figuring in the probe included JSW Steel, Essar Steel and Ispat.
The case was later transferred to the CCI.
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