1 min read.Updated: 01 Nov 2021, 11:17 AM ISTLivemint
The Competition Commission of India (CCI) refrained from imposing any monetary penalty
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The Competition Commission of India (CCI) issued a final order on 29th October 2021 against six firms that were found to have indulged in cartelization in the supply of Low-Density Poly Ethylene covers (LDPE) to Food Corporation of India (FCI) by means of directly or indirectly determining prices, allocating tenders, coordinating bid prices and manipulating the bidding process.
However, CCI refrained from imposing any monetary penalty considering that four out of six firms had filed lesser penalty applications and admitted their conduct, confessed their modus operandi during investigation thereby fully cooperated with CCI.
Moreover, the firms were also MSMEs with limited staff/ turnover and the prevailing economic situation arising due to the outbreak of COVID-19, stress wrought upon the MSME sector in the wake of the said pandemic.
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