CCI was unduly reliant on internal notings of 4 PSU
insurance companies in the bid-rigging case.
As per a July 10 decision of the Competition Commission of India
(CCI), a combined penalty of Rs 671 crore is imposed on four PSU
insurance companies—National Insurance, New India Assurance,
Oriental insurance and United India Insurance—for bid-rigging
and cartel activities in response to tenders floated by the
Government of Kerala for selecting an insurance service provider
for the Rashtriya Swastha Bima Yojna.
The finding of the CCI is primarily based on an Inter-Company
Coordination Committee (ICCC) meeting between these companies,
recording their agreement to be ranked in the bidding process
(presumably) in terms of the price quoted by them.
