Anti-Cartelization

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..... Anti-Cartelization
News and Press Release
Dated:- 24-3-2017

The Building Association of India (BAI) filed a case against cement firms and the Cement Manufacturers Association (CMA) on charges of cartelization The Competition Commission of India (CCI) inquired into the charges made by Building Association of India (BAI). CCI found that the cement companies used the platform of Cement .....

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..... Manufacturers' Association (CMA) and shared details relating to prices, capacity utilization, production and dispatch, acting in concert in fixing prices of cement and thereby restricted production and supplies in the market contravening provisions of Section 3(1) read with Section 3(3)(a) and 3(3)(b) of the Competition Act, 2002. CCI vide order dated 31st August, 2016 imposed penalties on cemen .....

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..... t companies and CMA, as indicated below: - ACC Ltd. Rs.1147.59 crores Ambuja Cements Ltd. Rs.1163.91 crores Binani Cements Ltd. Rs.167.32 crores Century Textiles and Industries Ltd. Rs.274.02 crores India Cements Ltd. Rs.187.48 crores J K Cement Ltd. Rs.128.54 crores Lafarge India Pvt. Ltd. Rs.490.01 crores Ramco Cements Ltd. Rs.258.63 crores UltraTech Cement Ltd. .....

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..... Rs.1175.49 crores Jaiprakash Associates Ltd. Rs.1323.60 crores Cement Manufacturers' Association Rs.0.73 crores. The above cement companies and CMA were directed to deposit the penalty within 60 days from the receipt of the order and they have challenged the order of CCI before the Competition Appellate Tribunal. This was stated by Shri Arjun Ram Meghwal, Minister of State for Corpor .....

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..... ate Affairs in written reply to a question in Lok Sabha today.
News - Press release - PIB .....

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