Steel Authority of India (SAIL) has secured a stay on an antitrust investigation from the Madras High Court after challenging the process followed by India’s competition regulator, according to a Reuters report.
In its filing, SAIL argued that it had been cleared in an initial investigation report, but the Competition Commission of India (CCI) proceeded with a further probe without prior notice, raising concerns over procedural lapses.
The investigation relates to allegations of price coordination among major steelmakers, including Tata Steel, JSW Steel and Rashtriya Ispat Nigam Limited.
SAIL said a supplementary report later found wrongdoing using the same material cited in the earlier report that had exonerated the company, adding that reopening the case without prior notice breached principles of due process.