Cement manufacturers get a 6307 crore penalty from CCI Battery of law firms and Senior Counsels Ashok Desai Seth Dua Amarchand Luthra amp Luthra and ELP represent cement companies

Cement manufacturers get a 6307 crore penalty from CCI Battery of law firms and Senior Counsels  Ashok Desai Seth Dua Amarchand Luthra amp Luthra and ELP represent cement companies

The Competition Commission of India (CCI) has found 11 cement manufacturers guilty of cartelization and has imposed a penalty at the rate of 0.5 times of their profit for the year 2009-10 and 2010-11 for violation under Section 3 of the Competition Act, 2002. The penalty amounts to more than Rs. 6,306.59 crore (Nearly $1.14 billion).  The CCI also imposed an additional penalty on the Cement Manufacturers Association.

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