https://www.taxtmi.com/caselaws?id=755101 NCLAT Principal Bench upheld Competition Commission's finding that appellant company colluded with other bidders to rig soil testing tenders for UP Agriculture Department in 2017, violating Section 3(1) read with Section 3(3)(d) of Competition Act 2022. Appellant provided cover bids to prevent tender cancellation due to insufficient participation in Meerut and Jhansi divisions. NCLAT confirmed cease-and-desist order but reduced penalty from 5% to 3% of average annual turnover for last three years, considering appellant's supporting role rather than main role in the cartel. Application disposed. en-us Tue, 02 Jul 2024 00:00:00 +0530 Fri, 05 Jul 2024 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755101 NCLAT Principal Bench upheld Competition Commission's finding that appellant company colluded with other bidders to rig soil testing tenders for UP Agriculture Department in 2017, violating Section 3(1) read with Section 3(3)(d) of Competition Act 2022. Appellant provided cover bids to prevent tender cancellation due to insufficient participation in Meerut and Jhansi divisions. NCLAT confirmed cease-and-desist order but reduced penalty from 5% to 3% of average annual turnover for last three years, considering appellant's supporting role rather than main role in the cartel. Application disposed. Case-Laws Law of Competition Tue, 02 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755101