Competition Commission of India finds conduct and practice of coal and sand transportation companies to be in contravention of the Competition Law; The parties have been directed to cease and desist from indulging in anti-competitive conduct; A total penalty of 11,81,71,260 imposed on the ten parties; Penalty also imposedon the eight officials of the said parties who were found to be liable in terms of Section 48 of the Act

Competition Commission of India finds conduct and practice of coal and sand transportation companies to be in contravention of the Competition Law; The parties have been directed to cease and desist from indulging in anti-competitive conduct; A total penalty of 11,81,71,260 imposed on the ten parties; Penalty also imposedon the eight officials of the said parties who were found to be liable in terms of Section 48 of the Act https://www.taxtmi.com/news?id=18797 The Commission found that several coal and sand transport firms submitted identical high bids, constituting an agreement to fix prices in breach of the Competition Law's prohibition on price fixing and harming competition in public procurement. The Commission directed the parties to cease such anti competitive conduct, imposed aggregated monetary penalties on the ten firms calculated from their average turnover, and held eight officials personally liable with penalties for their participation. en-us Thu, 14 Sep 2017 18:47:55 +0530 Thu, 14 Sep 2017 18:47:55 +0530 TaxTMI RSS Generator Competition Commission of India finds conduct and practice of coal and sand transportation companies to be in contravention of the Competition Law; The parties have been directed to cease and desist from indulging in anti-competitive conduct; A total penalty of 11,81,71,260 imposed on the ten parties; Penalty also imposedon the eight officials of the said parties who were found to be liable in terms of Section 48 of the Act https://www.taxtmi.com/news?id=18797 The Commission found that several coal and sand transport firms submitted identical high bids, constituting an agreement to fix prices in breach of the Competition Law's prohibition on price fixing and harming competition in public procurement. The Commission directed the parties to cease such anti competitive conduct, imposed aggregated monetary penalties on the ten firms calculated from their average turnover, and held eight officials personally liable with penalties for their participation. News - Thu, 14 Sep 2017 18:47:55 +0530 https://www.taxtmi.com/news?id=18797