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India’s state-run Steel Authority of India Ltd. (SAIL) has received temporary relief after the Madras High Court put an antitrust investigation against the company on hold.The case is linked to a wider Competition Commission of India (CCI) probe into alleged price coordination and production cuts in the steel sector. The investigation reportedly involved several major steel companies, including SAIL, Tata Steel, JSW Steel and RINL.
SAIL challenged the proceedings, arguing that it had already been cleared in an earlier investigation report and that a supplementary probe raised fresh concerns without proper notice. The company claimed this violated principles of natural justice.The court’s order temporarily shields SAIL from further investigation while the matter remains under legal review. The next hearing is expected on June 10.
The development is significant for India’s steel industry, as the antitrust case is among the most closely watched regulatory matters in the sector. Market participants will be watching how the case progresses and whether it impacts broader scrutiny of steel pricing practices.
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