Press Information Bureau

Government of India

Ministry of Corporate Affairs

08-September-2011 14:51 IST

Investigation of Polyester Companies by CCI

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India (CCI). The Commission has directed Director General, CCI to conduct investigation in the said matter.

Replying to a written question about the companies which have been investigated in this regarding the outcome of the said investigation; and the action taken/being taken against the guilty companies the minister said the matter is still under investigation by Director General, CCI.

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ST/-

Cartel allegation in synthetic fiber sector prompts formal competition regulator investigation and inquiry continues pending determination Allegations of cartelization among polyester and synthetic fiber manufacturers prompted the competition regulator to direct its Director General to conduct a fact-finding investigation into the alleged anticompetitive conduct. The inquiry remains ongoing, with evidence collection and assessment underway and no final determination or enforcement action disclosed.