Two companies have been fined for bidding for a Gail tender

0


Two companies have been fined for bidding for a Gail tender

The Competition Commission of India has fined two companies for engaging in auction fraud

The Competition Commission of India (CCI) has fined two companies for bidding through Maharatna’s Case Authority of India Limited (GAIL).

Gail is in question for reclaiming a well in Ahmedabad and Anand in Gujarat in the 2017-18 financial year.

According to a report released by CCI, both BMP Infratech and Rathi Engineering were fined for engaging in auction fraud.

CCI to BMP Infratech for Rs. 25 lakh, Rs. 2.5 lakh on Rathi Engineering and Rs. 1 lakh and Rs. Fined 50,000. This is in addition to the execution of the ceasefire order.

The two companies continued to liaise with each other over Gail’s tender, even after they both submitted their bids, the competition watchdog said.

The auctions submitted by the two companies also came from the same IP address and were one day apart from each other, CCI further stated.

Furthermore, the CCI report states that the bids of the two companies were submitted from the PMP Infratech campus in Ahmedabad.

This type of conduct violates the provisions of Section 3, 3 (1) of Section 3 (1), which prohibit anti-competitive agreements, including the Auction Fraud Act of 2002.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here