20 Apr 2012

Order against Explosive Manufacturers/Suppliers imposing a penalty of about Rs.58.83 crore

( PIB )
The Competition Commission of India has found certain Explosive Suppliers who supply explosives to Coal India Limited in violation of the provisions of the Competition Act. The Commission has imposed penalty @3% on average of 3 years turnover on ten Explosive Suppliers aggregating to about Rs.58.83 crore. 

The Commission has also directed these suppliers to “cease and desist” from engaging in practice of manipulating process of bidding in any manner.

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