The Competition Appellate Tribunal (COMPAT) has stayed the Rs. 6,307 crore penalty imposed by the Competition Commission of India (CCI) against various cement companies. However, COMPAT has directed the companies and the Cement Manufacturer’s Association to deposit 10% of the penalty amount within one month, failing which the appeal shall be dismissed.
As reported by Bar & Bench, in June last year, the CCI had found 11 cement companies guilty of cartelization, and had imposed a penalty at the rate of 0.5 times . . .
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