This is a rundown of last week’s news updates on Antitrust:
Competition Commission of India issued orders against firms guilty of bid-rigging and cartelization
The Competition Commission of India (CCI), India’s fair markets watchdog, found that six firms had engaged in cartelization in the supply of Low-Density Poly Ethylene covers (LDPE) to the Food Corporation of India (FCI) by determining prices, allocating tenders, coordinating bid prices, and manipulating the bidding process directly or indirectly. CCI issued a cease-and-desist order against the firms, however, it refrained from imposing monetary penalties, since four out of six firms submitted lesser penalty applications, accepted their misconduct, disclosed their modus operandi throughout the inquiry, and cooperated with the CCI.
CCI starts probe into Amazon on allegations of anticompetitive practices
Following up on our previous post, the Competition Commission of India (CCI) and Enforcement Directorate has started an investigation into Amazon’s selling policies to look into claims of diverting search results. The move came after trade associations like The Indian Sellers Collective as well as the independent sellers raised their concerns against the eCommerce giant’s alleged exploitation of internal data to manipulate search results and profit itself.
Sun Pharma concerns to pay USD 85 million in settlement pacts over antitrust litigation
Pharma company Sun Pharmaceutical Industries announced that two of its subsidiaries in the United States, Taro Pharmaceuticals United States of America, Inc. (Taro) and Sun Pharmaceutical Industries, Inc. (SPII), have reached an agreement to pay a combined total of USD 85 million in return for a complete discharge of all claims made against them in the settlement class members’ direct purchaser action, without any admission of fault.
CCI raids Associated Alcohols, Som Distilleries in price fixing probe
CCI probed the offices of Associated Alcohols & Breweries and Som Distilleries as part of an investigation into alleged price fixing in liquor products. The competition watchdog’s officers allegedly conducted search and seizure operations in many cities, investigating on cases involving companies allegedly breaking antitrust rules by collaborating on pricing. The probe is looking at price fixing of what is known as country liquor, or inexpensive locally produced alcohol.
Authored by Rohan Joshua Jacob (Associate) and Anjali Shekhawat (Intern).
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