The raids were being carried out in Mumbai, New Delhi and Gurugram, said the report
The Competition Commission of India has raided the offices of many global advertising giants, including GroupM, Dentsu and Interpublic Group, and a broadcasters’ industry group over alleged price collusion, reported Reuters on March 18 citing sources.
CCI officers searched around 10 locations after the anti-trust body initiated a case against the agencies and top broadcasters over allegedly fixing ad rates and discounts, the report added.
The raids were being carried out in Mumbai, New Delhi and Gurugram, said the report.
Sources told Storyboard18 that GroupM’s Mumbai office near Mumbai airport Bay 99 has been blockaded by the CCI officials. The investigations are ongoing.
In such surprise raids, CCI officers typically seize documents and record testimonies of company officials. The investigation is likely to then continue for several months, and the process is kept confidential.
The Indian Broadcasting and Digital Foundation also did not respond, and neither did CCI, which does not make public the details of its enforcement action or cases related to price collusion.
In December, the CCI raided some offices of alcohol giants Pernod Ricard and Anheuser-Busch InBev as it investigated accusations of price collusion with retailers in a southern state.
Courtesy: MoneyControl
