The Competition Commission of India (CCI) has issued a final order against six firms, which were found to have indulged in cartelisation in the supply of Low Density Poly Ethylene covers (LDPE) to Food Corporation of India (FCI).
They did it by means of directly or indirectly determining prices, allocating tenders, coordinating bid prices and manipulating the bidding process, the competition watchdog said in a statement. The case was initiated on the basis of a reference filed on behalf of FCI.
In this backdrop, CCI issued a cease and desist order against the firms found guilty of bid rigging and cartelisation in the said tenders floated by FCI.
“However, 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 CCI,” the statement said.
“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.,” it said.
The watchdog, in a statement on Monday, said that the final order was issued on October 29, 2021.
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