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CCI probe puts Tata Steel, JSW, SAIL and others in the dock for price collusion
- IBJ Bureau
- Jan 07, 2026
The Competition Commission of India (CCI) has reportedly found that market leaders Tata Steel, JSW Steel and State-run SAIL, along with 25 other companies, have breached anti-trust law by colluding on steel selling prices, according to a Reuters’ report.
The findings put the companies and several senior executives at risk of heavy fines, according to a confidential regulatory document seen by the Reuters.
The CCI has also reportedly held 56 top executives liable for price collusion over different periods between 2015 and 2023.
Those named in the probe are reported to include JSW’s billionaire Managing Director Sajjan Jindal, Tata Steel Chief Executive T V Narendran and four former chairpersons of SAIL.
The CCI investigation began in 2021 and is described as one of the most high-profile cases involving the steel industry. The investigation is in an advanced stage and has not been made public yet.
A group of builders had alleged in a criminal case filed in a State court that nine steel companies were working together to restrict supply and raise prices. In 2022, the watchdog carried out raids on some smaller steel companies as a part of the probe.
Over time, the inquiry widened. The October order, reviewed by the news agency, shows that the probe was expanded to cover as many as 31 companies and industry groups as well as dozens of executives.
Under CCI rules, details of cases linked to cartel-like behaviour are not made public before they are completed.
The order states that the investigation has found the conduct of the parties to be in violation of Indian anti-trust law and that certain individuals have also been held liable. Such findings mark a key stage in any competition case.
The findings will now be reviewed by senior CCI officials. Companies and executives named in the order will be given a chance to submit objections or comments.
Given the size of the case, this process could take several months. After that, the CCI is expected to issue a final order, which will be made public.
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