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India: Six-year-long steel probe yields no results

By  |  January 14, 2014

After six years of probing India’s steel industry, reports say the Competition Commission of India has decided to close the case, having found no evidence of the alleged cartels.

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    Bodies including the Steel Authority of India and JSW Steel have been lifted of a burden following the investigation’s end, say reports, as the CCI announced it had not been able “to establish a finding of contravention against the opposite parties.”

    The regulator, therefore, “deems it appropriate to order closure of the case,” the CCI announced Monday.

    A probe was launched six years ago by the former Monopolies and Restrict Trade Practices Commission, later taken over by the CCI.

    Full Content: Economic Times of India

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