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Competition Commission of India fines 10 cos for rigging coal transportation tender

The coal company had moved CCI after it received matching bids at higher rates for four tenders floated for coal and sand transportation.

September 15, 2017 / 04:00 PM IST
 
 
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The Competition Commission of India (CCI) has slapped a collective Rs 12 crore penalty on 10 firms for rigging bids for coal transportation tenders floated by Coal India’s subsidiary Western Coalfields Limited.

The regulator carried out a detailed investigation after a complaint by Western Coalfields and found these companies to be involved in bid rigging for the tender process.

The coal company had moved CCI after it received matching bids at higher rates for four tenders floated for coal and sand transportation.

The competition watchdog concluded that these companies indulged in price rigging in the tender process and imposed a fine on eight officials and ordered them to desist from anti-competitive practices.