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The Competition Commission of India (CCI) yesterday dismissed an allegation made against Indian oil firms – BPCL, IOCL, and HPCL – pertaining to unfair business practices. The unidentified complainants had blamed the oil majors of putting on anti-competitive terms in the notice seeking tenders floated "identically/ jointly/ parallelly" in different states. Concerns were also raised on the introduction of an identical price band within which bidders were forced to quote.
In response to a complaint filed by Indian National Shipowners' Association, Competition Commission of India (CCI) has initiated a detailed probe against Indian oil major, ONGC. The complaint filed, refers to one of the clauses about unilateral right to terminate the agreement in the Charter Hire Agreement (CHA) of the state-owned firm to be one-sided, unfair and abusive. ONGC is said to have contravened Section 4 of the Competition Act.