The Competition Commission of India (CCI) passed a final order against two firms – PMP Infratech Pvt Ltd and Rati Engineering – for indulging into concerted practices leading to bid rigging of a tender floated by GAIL in 2017-18 for the restoration of well sites located in Ahmedabad and Anand areas of Gujarat.
Based on investigation and electronic/documentary evidence collected by its Director General as well as other evidence available on record, the CCI found that the two firms were in regular touch with each other regarding the tender floated by GAIL and even after the submission of their bids.
Further the bids of two firms were submitted from same IP address from the premises of PMP Infratech Pvt Ltd’s office at Ahmedabad, with a one-day gap.
The CCI has found that such conduct contravened the provisions of Section 3(3)(d) read with Section 3(1) of the Competition Act, 2002 which prohibit anti-competitive agreements, including bid rigging.
It imposed a monetary penalty of Rs 25 lakh on PMP Infratech, Rs 2.5 lakh on Rati Engineering and Rs 1 lakh and Rs 50,000 on their respective individuals who managed and controlled the firms, besides passing a cease-and-desist order.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.