Madras HC Directs CCI to Probe into Steel Price Cartelisation
Steel Price Cartelisation Financial Express

Madras HC Directs CCI to Probe into Steel Price Cartelisation

Madras High Court Justice V Bhavani Subbaroyan on July 28 has directed the Competition Commission of India to proceed with the

Madras High Court Justice V Bhavani Subbaroyan on July 28 has directed the Competition Commission of India to proceed with the investigation into alleged cartelisation by steel manufacturers within four months. The Court took on record the submission made by the Coimbatore Corporation Contractors Welfare Association that steel manufacturers are controlling its supply, creating artificial scarcities thereby, leading to an increase in the price of steel to make abnormal gains. The petition was filed through Advocates Mr S Doraisamy.

In another case, the Court directed the Director General of Police of Tamil Nadu to take action on a complaint alleging cartelization in the cement industry, after being informed that a March 6, 2021 complaint on the issue has been forwarded to the DGP by the Central Bureau of Investigation. Class I Contractor Welfare Association had raised allegations against major cement players in India, including ACC Limited, Ambuja Cements Limited, Grasim Cement, Ultra Tech Cement Limited, Jaiprakash Associate Limited, The India Cements Limited, JK Cement Limited, Century Textiles and Industries Limited, The Ramco Cements Limited, Binani Cement Limited and Lafarge India Private Limited.

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