CCI (yet again) imposes ₹205.73 crore penalty on seven cement companies

Varun Marwah January 20 2017

The Competition Commission of India (CCI) has levied a penalty aggregating to ₹205.73 crore on seven cement companies for ‘cartelization’ and ‘bid rigging’ with regard to a tender floated by a central agency of the Government of Haryana (Informant). This penalty has been calculated at 0.3% of the average turnover of the past three preceding financial years.

Individual penalties are as follows,

Shree Cement Limited (advised by Khaitan & Co):

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