Monday, Nov 1 2021 | Time 23:55 Hrs(IST)
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Business EconomyPosted at: Nov 1 2021 8:51PM


CCI passes cease and desist order against 6 firms for bid rigging in FDI tender

New Delhi, Nov 1 (UNI) Fair trade watchdog Competition Commission of India (CCI) has issued cease and desist order against six firms found guilty of bid rigging and cartelisation in tender floated by public sector Food Corporation of India (FCI).
A cease and desist order is an order by an administrative agency that requires a person or entity to stop engaging in a particular activity.
"CCI found these firms to have indulged in cartelisation in the supply of low density poly ethylene covers (LDPE) to Food Corporation of India (FCI) by means of directly or indirectly determining prices, allocating tenders, coordinating bid prices and manipulating the bidding process," an official statement said.
The case had been initiated on the basis of a reference filed on behalf of FCI.
The CCI refrained from imposing any monetary penalty considering that four out of six firms had filed lesser penalty applications and admitted their conduct, confessed their modus operandi during investigation thereby fully cooperated with the regulator.
"Moreover, the firms were also MSMEs with limited staff/ turnover and the prevailing economic situation arising due to the outbreak of COVID-19, stress wrought upon the MSME sector in the wake of the said pandemic," the statement from CCI said.
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Tags: #CCI passes cease and desist order against 6 firms for bid rigging in FDI tender
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