Cement companies in the mixer again as CCI upholds 6700 crore penalty [Updated]

Aditya AK September 2 2016

The Competition Commission of India has upheld its earlier decision imposing a hefty penalty of Rs. 6,700 crore on a number of cement companies for anti-competitive behaviour.

In June 2012, on a complaint from the Builders' Association of India, the CCI had found 11 cement companies guilty of cartelization on the basis of price parallelism, production parallelism and dispatch parallelism, and had imposed a penalty at the rate of 0.5 times of their profit for the years 2009-10 and 2010-11, amounting to . . .

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