https://www.taxtmi.com/caselaws?id=274328 Separate public sector insurers were held not to be a single economic entity because they retained distinct corporate existence, separate boards and operational autonomy under the nationalisation framework, so section 3 of the Competition Act applied. The 7.12.2009 meeting and subsequent tender conduct were found to show a prior understanding to submit coordinated bids, amounting to bid rigging rather than a genuine co-insurance arrangement. Once that contravention was proved, the statutory presumption of appreciable adverse effect on competition was not rebutted. The inquiry was not beyond the prima facie direction, no natural justice breach was established, and the finding of virtual fraud was set aside. Penalty was upheld but confined to relevant turnover. en-us Fri, 09 Dec 2016 00:00:00 +0530 Tue, 07 Aug 2018 22:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274328 Separate public sector insurers were held not to be a single economic entity because they retained distinct corporate existence, separate boards and operational autonomy under the nationalisation framework, so section 3 of the Competition Act applied. The 7.12.2009 meeting and subsequent tender conduct were found to show a prior understanding to submit coordinated bids, amounting to bid rigging rather than a genuine co-insurance arrangement. Once that contravention was proved, the statutory presumption of appreciable adverse effect on competition was not rebutted. The inquiry was not beyond the prima facie direction, no natural justice breach was established, and the finding of virtual fraud was set aside. Penalty was upheld but confined to relevant turnover. Case-Laws Law of Competition Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274328