On a day when the onion price situation threatened to worsen, the Competition Commission of India ordered a probe into the possibility of abuse of dominant position and price cartels in the sale of onions.
Prices of onion have peaked 23% in the past one week. On an annual basis, the prices rose by 82.47%. The commission, which met in Delhi on Thursday to discuss the spurt in prices of onions, ordered its director general of investigations to carry out a formal probe under Section 26 (1) of the Competition Act and submit a report in 45 days. Sources have told CNBC-TV18 that the commission found "prima-facie" evidence of a cartelDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
