The Competition Commission of India (CCI) has directed the Trustees’ Association of India (TAI), along with Axis Trustee Services, IDBI Trusteeship Services and SBI CAP Trustee Company, to cease and desist from unfair business practices.

The regulator found that the entities were involved in fixing benchmark prices for debenture trusteeship services, raising concerns over anti-competitive conduct.

The CCI, which monitors competition-related practices in the market, issued its order on Wednesday against the organisations and the individuals associated with them.