CCI imposes penalty on Coal India

Fair trade regulator Competition Commission of India (CCI) has imposed a penalty of Rs. 591.01 crore upon Coal India Limited (CIL) and its subsidiaries for violating the Competition Act.  CCI found that CIL was engaged in imposing unfair and discriminatory conditions in Fuel Supply Agreements (FSAs) with power producers for supply of non-coking coal. CCI has directed CIL and its subsidiaries to “cease and desist” from anti-competitive practices and also modify the FSAs.

Month: Current Affairs - March, 2017