The Competition Commission of India (CCI) has conducted a surprise investigation raid at Shreyans Industries' Delhi office as part of a wider antitrust probe into alleged cartelization in the paper industry. The investigation aims to examine potential anti-competitive practices and price collusion among paper manufacturers.
In an ongoing probe by the Competition Commission of India (CCI), Shreyans Industries Ltd. has come under investigation with officials conducting a raid at its Delhi office. This move is part of broader surprise searches initiated by the CCI across various states including Maharashtra, Punjab, Uttar Pradesh, and Delhi, targeting multiple paper mills suspected of collusion in supply and pricing.
The investigation was triggered following complaints from government entities like the National Council of Educational Research and Training (NCERT) concerning possible price-fixing that impacted procurement of paper for educational materials. During such operations, CCI officials seize relevant documents, mobile data, and interrogate company officials to gather evidence on alleged cartelization.
Though several companies have stayed silent, this case gains significance given the scale of the paper industry in India, which contributes about 5% to global production with an annual turnover of approximately $11 billion.
The CCI maintains confidentiality over details of its cases and investigations until formal orders or findings are issued. Stakeholders await further clarity as the investigation proceeds with expected duration of several months.
Key Highlights:
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CCI raids Shreyans Industries' Delhi office over antitrust probe
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Part of wider investigation into price collusion in paper industry
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Investigation triggered by complaints from government paper buyers
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Evidence gathering includes document seizure and official interrogations
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Probe covers multiple states and several major paper manufacturers
Source: Economic Times, Reuters, CCI