CCI Probe Steel Companies Including Tata Steel for Alleged Cartelisation

The Competition Commission of India (CCI) has yet to issue any ruling on allegations of cartelisation involving steel companies, even though its investigative arm has flagged potential concerns, according to CNBC-TV18.

The probe, led by the Competition Commission of India (CCI) director general, reportedly found that around 35 steel firms may have engaged in cartel-like practices. However, the CCI has not formally accepted or rejected these findings at this stage.

Companies Asked to Respond

Sources said the regulator has now sought responses from all companies mentioned in the investigation and will schedule hearings to allow each party to present their case. The CCI will first determine whether the firms violated antitrust laws and, if confirmed, decide on any penalties. Under Indian law, the commission can impose fines of up to 10% of a company’s total turnover for confirmed violations. No official orders have been issued to date.

Major Firms Implicated

Earlier, on Tuesday (January 6), a Reuters report indicated that the CCI had found Tata Steel, JSW Steel, state-owned Steel Authority of India Ltd, and 25 other companies to have colluded on steel pricing. The report also noted that 56 senior executives were implicated for their roles over various periods between 2015 and 2023, citing a CCI order dated October 6 that has not been made public.

The investigation, which began in 2021 following complaints of supply restrictions and price coordination, remains under review, Reuters added, with final orders yet to be issued.

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