SAIL wins court block on steel antitrust investigation
NEW DELHI, April 25 -- An Indian court has put an antitrust investigation into state-run Steel Authority of India (SAIL) on hold after the company challenged the Indian watchdog for procedural lapses, according to court records and the company's legal filings.
In the most high-profile antitrust case involving India's steel sector, an investigation by the Competition Commission of India (CCI) found 28 firms colluded on steel prices, Reuters reported in January. These included Tata Steel, JSW Steel and state-run SAIL and RINL.
Online Madras High Court records show the judge in an April 21 hearing put the investigation into SAIL on hold. The ruling and SAIL's arguments in court are being reported for the first time by Reuters.
SAIL did not res...
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