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United Phosphorus and two others fined Rs 317.91 crore for cartel

By  |  April 24, 2012
United Phosphorus and two others fined Rs 317.91 crore for cartel

The Competition Commission of India has fined three manufacturers of aluminum phosphide tablets a combined total of Rs 317.91 crore. Aluminum phosphide tablets are used for preserving central pool food grain by the Food Corporation of India (FCI). Following a complaint submitted by FCI to the CCI, the Commission found that the manufacturers had engaged in cartelization and price fixing.

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    United Phosphorus was fined the lion’s share of the penalty, at Rs 252.44 crore. Excel Crop Care was fined Rs 63.90 crore; Sandhya Organics was fined Rs 1.57 crore. The fines were calculated at 9 percent of each company’s turnover of the last three preceding financial years.

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    Full content: Economic Times

     

    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)

     

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