Agency, New Delhi
Published by: Kuldeep Singh
Updated Tue, 02 Nov 2021 03:19 AM IST
The Competition Commission of India found that these six firms directly or indirectly controlled prices, awarded contracts, cooperated with each other on auction prices, and fully engaged in the supply of Low Density Polyethylene Covers to Food Corporation of India (FCI). Manipulating the auction process.
Competition Commission of India
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The Commission observed that these firms directly or indirectly controlled prices, awarded contracts, cooperated with each other in the auction price and throughout the auction process by forming a tie-up in the supply of Low Density Polyethylene Covers to the Food Corporation of India (FCI). Fraudulent.
The CCI issued a release stating that the matter was initiated on the basis of the information provided by the FCI. According to the release, the commission has finally passed a cease and desist (stop and stop) order against these firm companies found guilty. However, imposition of any kind of monetary penalty has been avoided against them.
The Commission has argued behind this that four of these six, admitting their mistake as soon as the case started, gave full details of their activities and gave full cooperation in the proceedings of the Commission. Also, all these firms are in the category of MSMEs which have very less staff and less turnover and the MSME sector is already under a lot of pressure due to Kovid.