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Jindal Saw: Surreptitious Searches & Steel Tender Scrutiny
Authorities conducted surprise searches targeting Jindal SAW & Maharashtra Seamless over alleged bid rigging in steel pipe tenders after a 2023 Oil & Natural Gas Corporation complaint. Investigators seized digital & paper records aiming to test for coordinated pricing patterns. No immediate public statements emerged from the companies or regulator. Outcome significance spans legal penalties, procurement trust, sector wide compliance upgrades.
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