October 18, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

PMP Infratech, Rati Engineering fined for rigging GAIL tender in 2017-18

The competition watchdog has held PMP Infratech and Rati Engineering guilty for rigging a tender floated by state-run natural-gas company GAIL in 2017-18 for the restoration of well sites located in Gujarat.

The Competition Commission of India imposed a penalty of Rs 25 lakh on PMP, Rs 2.5 lakh on Rati and Rs 1 lakh and Rs 50,000 on the individuals who managed and controlled the firms, besides passing a cease-and-desist order, an official statement said.

The statement said based on investigation and electronic and documentary evidence collected by the

‘s director-general as well as other evidence available on record, the watchdog found that the two firms were in regular touch with each other regarding the tender and even after the submission of their bids.
The bids of the two firms were submitted from the same IP address, from the premises of PMP Infratech’s office at Ahmedabad, with a one-day gap, it said.

Share This :