date:Sep 20, 2018
was further strengthened from the fact that the bidders utilised the platform of ISMA and also acted on the signals emitted by EMAI, which influenced the bidding behaviour of the parties.
Accordingly, a total penalty of Rs 38.05 crore was imposed upon 18 sugar mills and their trade associations (ISMA/EMAI). Besides, a Cease and Desist Order was also issued against them.
While imposing penalties, the Commission applied the principle of relevant turnover and based the penalties on the revenue g