Investigation of Polyester Companies by CCI
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that an information alleging cartelization by Synthetic Fiber Manufacturer Companies has been received by the Competition Commission of India (CCI). The Commission has directed Director General, CCI to conduct investigation in the said matter.
Replying to a written question about the companies which have been investigated in this regarding the outcome of the said investigation; and the action taken/being taken against the guilty companies the minister said the matter is still under investigation by Director General, CCI.
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Its good to see that CCI is taking steps into other sectors apart from real estate. This would help CCI to formulate and expand the scope of “what is meant by dominance” as enumerated in Section 19(4) of Competition Act 2002.