Concrete & Debt
A builders' cartel and the loans that built half a skyline.
Gurugram·By R. Okonkwo·Delhi desk
Six developers, one lender, and a bidding pattern in which the losing quotes were always within 2.1 per cent of one another. We modelled 148 tenders across four years; the odds of that clustering occurring honestly were, on our arithmetic, negligible.
What it changed
Competition authority opened a suo motu inquiry into six developers.
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