India’s largest oil explorer, ONGC, uncovered a decade-long cement price-fixing cartel involving Dalmia Bharat, India Cements, and Shree Digvijay. The companies allegedly colluded on bids, even citing numerology for identical pricing, and attempted to oust foreign competitors. A five-year probe by the CCI found substantial evidence of these anti-competitive practices.
Lucky numbers and collusion: how an Indian cement cartel came unstuck
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