The Competition Commission of India (CCI) held 56 top executives, including JSW's Managing Director Sajjan Jindal, Tata Steel CEO T.V. Narendran and four former SAIL chairpersons, liable for price collusion over varying periods of time between 2015 and 2023
The breach is seen as a violation of confidentiality protocols, with potential implications for the credibility and timeline of the final order.
The investigation process has concluded but CCI's senior members are yet to review the findings and pass a final ruling
Kaur also said the commission’s role is to provide a 'level-playing field' in the Indian market
The Competition Commission of India (CCI) had last week notified new rules which allowed negotiated settlements in antitrust cases and accepted commitments from businesses for change in their behaviour in order to avoid an investigation
The veteran banker said concentration of business power can give results in the short run but poses a risk in the long run.
The CCI observed that the allegations were made only by the complainants and their claims were not borne out by the testimony of other dealerships across the country.