CCI orders debenture trustees and their association to stop fixing benchmark fees

1
The CCI has directed the Trustees' Association of India and three debenture trustee companies to cease and desist from anti-competitive conduct.
2
They were found to have collectively fixed a benchmark fee for debenture trusteeship services in FY 2020-21 and 2021-22.
3
No monetary penalty was imposed, given mitigating factors.

●Order dated 2 September 2026 in Case No. 29 of 2021, passed under Section 27 of the Competition Act, 2002.
●Parties: Trustees' Association of India, IDBI Trusteeship Services, Axis Trustee Services and SBI CAP Trustee Company.
●Violation found under Sections 3(3)(a) and 3(3)(b) read with Section 3(1) — fixing a minimum benchmark fee amounted to cartelisation.
●Individual officials were held liable under Section 48, which covers persons in charge of a company's conduct.
●No monetary penalty was imposed; the direction is to cease and desist.
●The Competition Commission of India was established on 14 October 2003 under the Competition Act, 2002.
●CCI works under the Ministry of Corporate Affairs, is headquartered in New Delhi, and is chaired by Ravneet Kaur (since 2023).

Exam Relevance

upsc

GS Paper 3 > Indian Economy > Regulatory Bodies

Expected Questions

★Under which section of the Competition Act, 2002 are horizontal price-fixing agreements presumed anti-competitive?

Key Terms

Cartelisation

An agreement among competitors to fix prices, limit output, share markets or rig bids, presumed under Section 3(3) to have an appreciable adverse effect on competition.

Cease and desist order

A direction under Section 27 requiring parties to stop the offending conduct; it may be issued with or without a monetary penalty.

priority_highMust Remember

•CCI established 14 October 2003 under the Competition Act, 2002.
•Parent ministry: Corporate Affairs; headquarters New Delhi.
•Section 3(3) covers price fixing, output limiting, market sharing and bid rigging.

tips_and_updatesExam Tips

•Section 3(3) agreements are horizontal — between competitors. Section 3(4) covers vertical agreements up and down a supply chain, and carries no such presumption.

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CCI orders debenture trustees and their association to stop fixing benchmark fees

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Expected Questions

Key Terms

priority_highMust Remember

tips_and_updatesExam Tips

Practice Quiz

Which ministry is the Competition Commission of India attached to?

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