Friday, Nov 28, 2014

CCI orders fresh probe against Coal India

ENS Economic Bureau | New Delhi | Posted: January 31, 2014 5:19 am

The Competition Commission of India (CCI) has ordered fresh investigation into Coal India Ltd and its subsidiary for allegedly abusing its dominant position in fuel supplies. The order comes few months after the CCI imposed a penalty of Rs 1,773 crore on the company for unfair trade practices. The investigation has been ordered against Western Coalfields Ltd and Coal India.

“The DG is directed to investigate the matter. In case, DG finds that the OPs (opposite parties) have acted in contravention of the provisions of Act, it shall also investigate the role of the persons who at the time of such contravention were in-charge of and responsible for the conduct of the business of the company so as to fix responsibility of such persons under section 48 of the Act,” the order passed by the Commission said.

The director general has been asked to submit the report within 60 days. When contacted, CIL chairman S Narsing Rao, said he had no comments to offer. Last month, the CCI had imposed a fine of Rs 1,773 crore on CIL, the first major penalty on a state-owned company by it, for unfair business ways. The oder has been challenged by the state-miner in the Competition Appellate Tribunal.

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