New Delhi, Sep 21
Fair trade watchdog Competition Commission has rejected allegations that Odisha Mining Corp abused its dominant position in fixing the price of chrome ore, which is mainly used in the steel industry.
The complaint was filed by All Odisha Steel Federation, which represents about 69 steel and related manufacturers from that state.
Following a detailed investigation, Competition Commission of India (CCI) has found no evidence that Odisha Mining Corp indulged in anti-competitive practices.
The Commission, in June 2012, had directed its investigation arm Director General to probe the complaint. The DG, in the report in March this year, concluded that there is no violation of competition norms by the company.
Agreeing with the DG’s report, the Commission in its order dated September 19 has said that even though Odisha Mining Corp is in a dominant position in the relevant market, its conduct is “not abusive” in terms of the provisions of Competition Act.
Generally, chrome ore is used by steel makers as additives for making different quality of steel.
It was alleged that Odisha Mining Corp has monopoly over the extraction of chrome ore in the state and has been abusing its dominant position by fixing arbitrary and highly unreasonable price for the ore.
“DG has not found any evidence to suggest that the Odisha Mining Corp has been abusing its position of dominance in the relevant market so as to charge unfair prices or impose unfair conditions,” the order said. (PTI )