CCI slaps Rs 22-crore fine on Essel Shyam Communication

NEW DELHI: The Competition Commission has imposed a penalty of Rs 22.36 crore on Essel Shyam Communication, now known as Planetcast Media Services, for bid-rigging in tenders floated by sports broadcasters, including for Indian Premier League in 2012. The quantum of fine on the company and its officials were reduced by the regulator under lesser penalty provisions of the Competition Act, an official release said on Wednesday.