CCI raids Jindal SAW, Maharashtra Seamless for alleged bid rigging
Competition Commission of India (CCI) conducted surprise raids at steel pipe manufacturers Jindal SAW and Maharashtra Seamless in an alleged bid-rigging case, reported Reuters. The investigation was initiated following a complaint lodged in 2023 by state-run ONGC, related to bidding process for certain tenders involving the steel pipe companies. Shares of Jindal SAW fell 2.6% following the news.