CCI To Decide Whether It Has Jurisdiction To Investigate Alleged Cartelization By Debt Trustee Units Of IDBI, Axis & SBICap: Bombay High Court
2 years ago

CCI To Decide Whether It Has Jurisdiction To Investigate Alleged Cartelization By Debt Trustee Units Of IDBI, Axis & SBICap: Bombay High Court

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The Bombay High Court on Tuesday disposed of four petitions challenging Competition Commission of India’s investigation into alleged cartelization and price fixing by debenture trustee units of Axis, SBICap and IDBI. Trustees Association of India along with Axis, SBICap and IDBI had approached the High Court last year in separate writ petitions contending that the CCI’s investigation should be kept in abeyance as the Securities and Exchange Board of India was also investigating the issue. Senior Advocate Navroz Seervai for Trustees Association of India submitted before the court that the petitioners will proceed to a hearing before the CCI on all aspects including jurisdiction. Considering the possibility of conflicting orders due to parallel investigations, the High Court last year stayed CCI’s investigation till completion of SEBI’s investigation.

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