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India Regulator Raids Steel Firms For Price Collusion

By  |  February 13, 2023

India’s antitrust watchdog has raided the offices of companies around the country over allegations of price collusion, reported Reuters.

Among those raided were Rungta Steel and Shyam Steel, the sources said. Officials from the Competition Commission of India (CCI) conducted searches in states of West Bengal, Punjab, Tamil Nadu and Indian capital New Delhi on Saturday.

Related: Indian Watchdog Raids Several Steel Firms Over Collusion

The offices of around nine minor steel companies were searched. The CCI does not publicly disclose any details of its raid operations or cases related to alleged price collusion, in order to protect the rights of companies and individuals involved.