Nair Coal Services Private Limited (NCSL), Karam Chand Thapar and Bros (KCT) (CS) Limited and Naresh Kumar and Company (NKC) Private Limited have been found to be in contravention of the provisions of Section 3(1) read with Section 3(3)(c) and Section 3(3)(d) of the Competition Act 2002 by the Competition Commission of India (CCI) according to which the three companies were involved in eliminating and reducing competition besides manipulating the bidding process of the tenders floated by the Maharashtra State Power Generation Company Limited. The Order was passed on January 10, 2018 in Case No. 61 of 2013.
The CCI said that the case fell in the category of hard core cartels and hence, the Commission invoked stringent provisions of the law imposing a penalty of Rs. 7.16 crore, Rs. 111.60 crore and Rs. 16.92 crore upon NCSL, KCT and NKC for the anti-competitive conduct and a cease and desist order was also issued against them.