India News | Plea in HC to Order CBI Probe on 'steel Cartels'
Get latest articles and stories on India at LatestLY. : A petition has been filed in the Madras High Court for a direction to the CBI to probe formation of cartels by steel manufacturers to create artificial scarcity and thereby make wrongful gain.
Chennai, Mar 27 (PTI): A petition has been filed in the Madras High Court for a direction to the CBI to probe formation of cartels by steel manufacturers to create artificial scarcity and thereby make wrongful gain.
Justice A D Jagadish Chandra, before whom the criminal original petition from Coimbatore Corporation Contractors Welfare Association came up on Friday, ordered notice to the CBI returnable in two weeks.
The petitioner sought a direction to the CBI to register a case on his complaint and proceed with investigation.
According to the petitioner, the steel manufacturers formed syndicates/cartels to create artificial scarcity and to sell steel at a higher price.
This resulted in the contractors paying higher prices for steel and incurring heavy losses. The petitioner had lodged a complaint with the CBI seeking registration of a case against the steel manufacturers.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)