<h1>Publishers federation penalized for fixing conversion rates and mandatory pricing terms violating competition law</h1> The Competition Commission of India penalized a publishers' and booksellers' federation and three office-bearers for anti-competitive practices including fixing conversion rates above standard bank rates for importing international publications, stipulating mandatory pricing and credit terms for member suppliers, and maintaining approved vendor lists. These actions violated competition law provisions. Despite previous penalties for discount control violations, the federation failed to withdraw earlier anti-competitive circulars from third-party websites. The Commission imposed penalties totaling INR 6.33 lacs and directed the federation to educate members about competition law compliance and remove all previous anti-competitive advisories.