119 parties engaged in Kraft paper cartel reprimanded but not fined by Indian antitrust watchdog
( October 13, 2022, 05:01 GMT | Official Statement) -- MLex Summary: Four regional associations of Kraft paper manufacturers and their 115 members found to have entered into anticompetitive agreements were reprimanded by the Indian antitrust authority on Wednesday. The associations and Kraft paper manufacturers had allegedly increased prices of the paper and had created a shortage to enforce the unjust price increase, according to a 362-page order from the Competition Commission of India. The probe was initiated based on information filed by three associations of corrugated box manufacturers. Several the paper manufacturers had argued that the cartel was formed as a result of prevailing market circumstances due to rising input costs and the lack of individual bargaining power. While reprimanding the 119 parties to refrain from anticompetitive conduct, the antitrust watchdog did not impose any monetary penalty given that the parties were undergoing economic and financial hardship as a result of the COVID-19 pandemic and several manufacturers had admitted their wrongdoing and adopted a cooperative and non-adversarial approach, the order stated. The order from the Competition Commission of India is attached:...
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