ICC sanctions 24 entities, individuals for rigging bids in railway tenders

The Competition Commission has imposed penalties totaling approximately Rs 1.16 crore on 24 entities, including individuals, for engaging in bid-rigging and cartelization in tenders by the railways. Indian iron.

No less than 11 entities and 14 individuals from these entities have been found guilty of violating competition standards. Of these 25, the regulator did not impose any sanction on any entity.

In addition to imposing penalties on 24 of them, the watchdog ordered them to cease and desist from anti-competitive practices.

The case was taken up by the Competition Commission of India (CCI) following a referral filed on behalf of North Western Railways.

These entities engaged in cartelization in the supply of high performance polyamide (HPPA) bushings and self-lubricating polyester resin (SLPR) bushings to the Indian Railways by directly or indirectly determining prices, awarding tenders , by controlling supply and the market, coordinating bid prices and manipulating the bidding process, CCI said in a statement Tuesday.

“The evidence in this case included regular email communications and WhatsApp exchanges between the parties, quotation of identical/similar prices by certain parties, posting of bids from the same IP addresses by certain parties in close proximity …”, he noted.

Together, the CCI imposed sanctions to the tune of Rs 1.16 crore on the 24 entities, according to the statement.

Of the 11 entities, 4 had requested less severe sanctions under competition law.

A cartel member may approach the TCC with a request for a lesser sentence, in exchange for providing full, truthful and vital information regarding the alleged cartel.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

About the author