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India’s competition watchdog targets Glencore and two other companies

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Allegations probed that firms formed a cartel to discuss the pricing of pulses while importing and selling them at higher prices during shortage in 2015 and 2016

A Glencore signboard outside a building. Picture: REUTERS

The Competition Commission of India has been investigating allegations that the companies formed a cartel to discuss the pricing of pulses while importing and selling them in the Indian market at higher prices in 2015 and 2016, when India faced an acute shortage, the sources said. “The collusion by these companies led to higher prices of pulses,” one of the government sources said, adding that the CCI’s inquiry started three months ago.

Another source, an industry executive, said that CCI’s search involved going through company records at Glencore’s office in Mumbai, confirming it was part of the watchdog’s probe into accusations of fixing import prices.

 

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Guptas indian watchdog connection working hard

Tjoo, Glencore is always involved in funnies world over hey

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