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​India Competition Commission fines four public sector insurers for bid rigging

( July 17, 2015, 03:57 GMT | Official Statement) -- MLex Summary: The Competition Commission of India fined four public sector insurers a total of 6.7105 billion rupees ($106 million) for bid rigging. The companies, National Insurance, New India Assurance, Oriental Insurance and United India, entered into agreements on business sharing arrangements and submission of quotations in biddings for insurance services launched by the government of Kerala. The press release and the order are attached....

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