The Economic Times

Competition regulator issues cease-and-desist against Trustees Association of India

India's competition regulator issued a cease and desist order against four trustee firms. These entities were found to have engaged in cartelization and coordinated fee fixing. The Trustees' Association of India enforced a benchmark pricing structure for debenture trustees. This action restricted market supply and eliminated competitive choices for issuers. The regulator warned of aggravated consequences for any future recurrence of such conduct.