Home Business coal india: India raids engineering companies after Coal India antitrust criticism

coal india: India raids engineering companies after Coal India antitrust criticism

coal india: India raids engineering companies after Coal India antitrust criticism

Sharing is caring!

NEW DELHI: The Competition Commission of India (CCI) carried out raids at a number of small mining companies firms on Friday for allegedly colluding on costs whereas providing companies to the world’s largest coal miner, Coal India, 4 sources informed Reuters.
Officers of CCI raided firms in Kolkata in West Bengal state and Ranchi and Dhanbad in japanese state of Jharkhand, stated two of the sources, all of whom declined to be named as a result of sensitivity of the operation.
The raids observe complaints from Bharat Coking Coal Restricted, a unit of Coal India, and have been associated to cost rigging of tenders price at the least Rs 2,000 crore ($260 million), two different sources stated.
The companies rendered by the mining companies firms below investigation associated to extraction and transportation of coal, one of many sources stated.
The watchdog as a matter of coverage doesn’t make public particulars of its ongoing worth cartel investigations, or raids.
Coal India didn’t reply to an e mail looking for remark.
The raids are the newest such CCI operation. Final week, the CCI raided prime home sellers of on-line retail large Amazon, and a few sellers on Walmart’s Flipkart, following accusations of competitors legislation violations.

Leave a Reply

Your email address will not be published.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.