India Probe: Tata Steel, JSW, SAIL Breached Antitrust Law on Prices

• India's CCI found Tata Steel, JSW Steel, SAIL, and 25 other firms colluded on steel selling prices, breaching antitrust law.
• 56 top executives, including JSW's Sajjan Jindal and Tata Steel's T.V. Narendran, are also held liable for price collusion from 2015-2023.
• The probe began in 2021 after builders alleged companies restricted supply and hiked prices by 55% in six months.
• Companies face hefty fines up to three times their profit or 10% of turnover; executives can also be fined.
• Findings are a critical stage; companies can object before CCI issues a final, public order.

Why It Matters: Major Indian steel firms face significant fines after a CCI probe found widespread price collusion.