CCI slaps Rs.6,700 cr fine on 11 cement firms

The Competition Commission of India (CCI) has imposed more than Rs 6,700 crore penalty on 11 cement companies - UltraTech, Binani, Ramco, Jaiprakash Associates, JK Cement, Lafarge, India Cements, ACL, ACC, Century, Shree Cement, besides Cement Manufacturers´ Association (CMA) - for cartelisation. As per reports, the cement companies used the platform provided by the CMA and shared details relating to prices, capacity utilisation, production and dispatch, thereby restricting production and supplies in the market. Contact: Competition Commission of India. Website: www.cci.gov.in