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Eight suppliers of axle bearings to Indian Railways caught bid-rigging, fines not imposed

By Freny Patel ( October 12, 2022, 07:12 GMT | Insight) -- Eight vendors caught rigging bids for the supply of axle bearings to Indian Railways were ordered to cease their unfair business practices but no fines were imposed because the Competition Commission of India feared financial penalties could render the companies economically unviable, and force their exit from a market already characterized by a few players. The CCI has of late adopted a lenient stance when it comes to micro, small, and medium enterprises, largely because of the impact of the pandemic. Eight vendors caught rigging bids during an eight-year period for the supply of axle bearings to Indian Railways were ordered to cease unfair business practices on Tuesday. However, no fines were imposed because the antitrust watchdog feared financial penalties could render the companies, which are micro, small, and medium enterprises, economically unviable, and force their exit from the market....

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