New Delhi: India’s competition watchdog has carried out surprise raids on the offices of Jindal SAW Ltd and Maharashtra Seamless Ltd as part of an ongoing investigation into alleged bid-rigging in government tenders, according to sources familiar with the matter.

The Competition Commission of India (CCI) launched the raids in and around New Delhi earlier this week, targeting the two major steel pipe manufacturers. The action stems from a complaint lodged in 2023 by state-owned Oil and Natural Gas Corporation (ONGC), which alleged irregularities in the bidding process for steel pipe contracts.

Officials seized documents and questioned company personnel during the raids, which concluded on Monday. While details of the specific tenders under scrutiny remain unclear, the case centers on suspicions that the companies coordinated their bids to secure unfair advantages in ONGC’s procurement process.

Bid-rigging, a form of anti-competitive behavior where firms collude to manipulate contract awards, is a serious violation under Indian competition law. If proven, the companies could face significant financial penalties, restrictions on future tender participation, and long-term reputational damage.

Neither Jindal SAW nor Maharashtra Seamless has issued an official statement on the matter. ONGC has also not commented publicly on the progress of the probe.

The raids highlight the CCI’s increasing focus on curbing collusive practices in public procurement, particularly in sectors with large government contracts. Analysts say the outcome of this investigation could set an important precedent for India’s steel and infrastructure industries, where competition compliance is gaining greater regulatory attention.

The CCI is expected to continue reviewing the evidence collected before determining whether formal charges will be brought against the companies. Observers are closely watching for further action, including potential involvement of other firms in the sector.