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India: Probe finds no bid-rigging in sugar industry

 |  May 7, 2017

The Competition Commission has concluded that no bid-rigging was involved among eight firms that participated in bidding during the sale of the state government sugar mills in Uttar Pradesh over six years ago.

The matter pertains to the sale of as many as 21 operational and non-operational sugar mills by the Uttar Pradesh State Sugar Corporation and its subsidiary. These transactions took place during 2010 and 2011.

The latest ruling of the Competition Commission of India (CCI) has come more than four years after it ordered a detailed probe into the matter. The investigation was ordered in 2013.

“The fact that there is no evidence of collusion or coercion to show that several potential bidders were prevented from participating in the bidding process for the sale of closed mills rules out possibility of premeditation of outcome by the participating bidders and hence collusion by them,” CCI said with respect to eleven closed mills.

Full Content: DNA India

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