The Competitors Fee of India (CCI) issued a remaining order on twenty ninth October 2021 in opposition to six companies that had been discovered to have indulged in cartelization within the provide of Low-Density Poly Ethylene covers (LDPE) to Meals Company of India (FCI) via straight or not directly figuring out costs, allocating tenders, coordinating bid costs and manipulating the bidding course of.
Nonetheless, CCI avoided imposing any financial penalty contemplating that 4 out of six companies had filed lesser penalty purposes and admitted their conduct, confessed their modus operandi throughout investigation thereby absolutely cooperated with CCI.
Furthermore, the companies had been additionally MSMEs with restricted employees/ turnover and the prevailing financial state of affairs arising because of the outbreak of COVID-19, stress wrought upon the MSME sector within the wake of the mentioned pandemic.
Supply: Live Mint