New Delhi, Aug 8 (KNN) The Competition Commission of India (CCI) has imposed a penalty of Rs 6.25 crore on 11 shoe companies on charges of rigging  in market allocation by the suppliers of key raw-materials, ankle boots rubber sole.

“After a detailed investigation, CCI held that the bidder-suppliers by quoting identical rates had indirectly determined prices and indulged in bid rigging…,” an official statement said today.

Accordingly, CCI directed the contravening parties to cease and desist from indulging in such anti-competitive conduct in future.

The Commission also imposed a penalty on each of the contravening company at the rate of 5 per cent of the average turnover of the company. (KNN/GUNJ)