NEW DELHI, Apr 26: United Phosphorus today said the Competition Commission of India (CCI) has levied a penalty of Rs 252.44 crore on the company for discrepancies in bidding in a tender of FCI and collective boycott of another tender of the State-owned procurement agency.
“The company understand form the website of Competition Commission of India (CCI) that, vide its order dated April 23, 2012, CCI has levied a penalty of Rs 252.44 crores on the company for alleged violation of sections 3(3)(b) and 3 (3) (d) of Competition Act, 2002,’ United Phosphorus said in a regulatory filing.
A penalty has been levied on the company and two other manufacturers of aluminium phosphide tablets in respect of alleged cartelisation and collusive bidding in a tender of Food Corporation of India (FCI) for 600 million tonne of these tablets in 2009 and collective boycott of another tender of FCI in 2011, it said.
The total value of the 2009 tender was about Rs 24 crore and the company’s share on this was about Rs 8 crore.
However, United Phosphorus has said it believes there is no violation on its part as alleged by the CCI and it will in due course, take steps to file an appeal against the order before the Competition Appellate Tribunal, the filing added.(UNI)
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