A PYMNTS Company

Explosives manufacturer cartel fined after Coal India’s complaint

By  |  April 17, 2012

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Competition Commission of India has fined an explosives manufacturer cartel Rs 60 crore. Cartel members included Gulf Oil Corporation Ltd, Ideal Industrial Explosives Ltd, Solar Industries India Ltd, Blastec India Pvt. Ltd and Indian Explosives Ltd. The companies produce bulk explosives, cartridge explosives, fuses and detonators.

    Coal India had filed a complaint with the CCI, as the company faced similar bid prices when requesting quotes from the companies. Coal India accused the explosives manufacturers of colluding on prices, threatening to stop supply, and boycotting its reverse auctions. In addition to the manufacturers, Coal India also charged the Explosives Manufacturers Welfare Association and Explosives Manufacturers Association of India with involvement in the cartel.

    Full content: The Hindu Business Line

     

    Related content: Competition Commission of India’s Trysts with Law and Policy: Enforcement One Year On (Pallavi Shroff & Harman Sandhu, Amarchand & Mangaldas & Suresh A Shroff & Co)

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.