The Indian Competition Commission decides on whether public sector enterprises constitute a single economic entity (National Insurance, New India Assurance, Oriental Insurance and United India Insurance)

Insurance cartel* The CCI recently issued an order imposing a penalty of USD 105.7 million (approx.) on 4 public sector (owned by the Government of India) insurance companies for indulging in bid rigging. The case was initiated by the CCI on its own motion based on an anonymous letter alleging that the 4 public sector insurance companies (National Insurance Co, New India Assurance Co, Oriental Insurance Co and United India Insurance Co) had indulged in bid rigging in a tender floated by the government of the State of Kerala for selecting the insurance provider for a welfare scheme (health insurance for below poverty line families) in 2010-11. The evidence found by the CCI showed a relatively straightforward case. The representatives of the 4 companies had met a day before the bid

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Avinash Amarnath, The Indian Competition Commission decides on whether public sector enterprises constitute a single economic entity (National Insurance, New India Assurance, Oriental Insurance and United India Insurance), 10 July 2015, e-Competitions Bulletin July 2015, Art. N° 74806

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