Synopsis The case, which pertained to the supply of axle bearings to Eastern Railway, was taken up by the regulator on the basis of a reference filed on behalf of the Eastern Railway. NEW DELHI: Competition Commission on Tuesday directed eight MSMEs to cease and desist from unfair business practices after finding them indulging in bid rigging and cartelisation . The case, which pertained to the supply of axle bearings to Eastern Railway, was taken up by the regulator on the basis of a reference filed on behalf of the Eastern Railway. The watchdog found the eight firms indulged in cartelisation in the supply of axle bearings by means of directly or indirectly determining prices, allocating tenders , coordinating bid prices and manipulating the bidding process. The Competition Commission of India (CCI) has directed the firms as well as their respective officials to cease and desist from indulging in such practices, a release said. These firms are Chandra Brothers, Chandra Udyog, Sriguru Melters & Engineers, Rama Engineering Works, Krishna Engineering Works, Janardan Engineering Industries, V. K. Engineering Industries and Jai Bharat Industries. “The Commission holds that OP-1 to OP-8 have contravened the provisions of Section 3(1) of the Act read… Read full this story
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