Cartel allegations against Adani, RP-Sanjiv Goenka, and Vedanta in coal block auctions dismissed by the Competition Commission of India
News Article: Coal Block Auctions Allegations Dismissed by Competition Commission of India
In a recent development, the Competition Commission of India (CCI) has dismissed a complaint filed against several prominent companies, including Adani Enterprises, RP-Sanjiv Goenka Group, Vedanta, Hindalco, UltraTech, and Jindal Power, regarding allegations of cartelisation and bid-rigging during coal block auctions in 2015 and 2023.
The complaint, filed by an individual named Deepika, alleged collusion between Adani and RP-Sanjiv Goenka Group entities to secure the Sarisatolli coal mine in the 2015 auctions. For the 2023 auctions (16th tranche), allegations included bid suppression by Adani group entities and Cavill Mining, linked to Adicorp Enterprises.
Despite these serious allegations, the CCI found no prima facie evidence of anti-competitive behavior or collusive bidding. The commission cited a lack of specific corroborating evidence and procedural delays as reasons for dismissing the complaint. The Ministry of Coal (MoC) did not report any grievance or suspicion of cartelization or bid-rigging related to these auctions, further strengthening the CCI’s decision to reject the complaint.
The CCI also noted that investigating the issue at a late stage would serve no purpose, especially since the MoC had not expressed concerns.
In summary, all accused companies have been cleared of cartelisation and bid-rigging charges in the coal block auctions of 2015 and 2023. The case title of the complaint was Deepika Vs Calcutta Electricity Supply Corporation.
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[1] Competition Commission of India Order, Case No. 5 of 2021 [2] Ministry of Coal, India, Reports on Coal Block Auctions 2015 and 2023
- The dismissal of the complaint filed by Deepika against several businesses, such as Adani Enterprises and RP-Sanjiv Goenka Group, in the coal block auctions of 2015 and 2023 by the Competition Commission of India (CCI), has raised eyebrows in the realm of general-news and politics.
- The recent findings of the Competition Commission of India (CCI), which has dismissed allegations of cartelisation and bid-rigging in the coal block auctions, have significant implications for the finance and business sectors, given the high stakes involved in these minerals auctions.
