NEW DELHI: India’s antitrust inspectors have conducted surprise raids at steel pipe makers Jindal Saw and Maharashtra Seamless in an alleged case of bid rigging, according to sources yesterday.
The raids were conducted at offices of Jindal Saw and Maharashtra Seamless in and around here on Monday, and the search operation has now concluded, the sources said.
Reuters is first to report the antitrust raids, details of which are kept confidential in line with Competition Commission of India (CCI) rules.
CCI and the two companies did not respond immediately to requests for comment.
Jindal Saw is part of India’s OP Jindal Group, which has many businesses in the steel and power sectors.
The case was triggered by a complaint from state-run Oil and Natural Gas Corp (ONGC) in 2023, related to bidding of certain tenders by the steel pipe companies, the sources said.
ONGC did not respond to a request for comment.
In such surprise raids, CCI inspectors typically collect documents and question officials present, and the case can go on for several months. — Reuters
