Plea in HC to order CBI probe on 'steel cartels'

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Chennai, Mar 27 (PTI): A petition has been filed in the Madras High Court for a direction to the CBI to probe formation of cartels by steel manufacturers to create artificial scarcity and thereby make wrongful gain.

Justice A D Jagadish Chandra, before whom the criminal original petition from Coimbatore Corporation Contractors Welfare Association came up on Friday, ordered notice to the CBI returnable in two weeks.

The petitioner sought a direction to the CBI to register a case on his complaint and proceed with investigation.

According to the petitioner, the steel manufacturers formed syndicates/cartels to create artificial scarcity and to sell steel at a higher price.

This resulted in the contractors paying higher prices for steel and incurring heavy losses.

The petitioner had lodged a complaint with the CBI seeking registration of a case against the steel manufacturers. PTI CORR SA BN BN