Hearing on cement firms' cartelisation

In the cartelisation case of cement companies, the Competition Appellate Tribunal (COMPAT) was scheduled to resume its hearing on March 13 over a batch of petitions filed by cement firms seeking stay on Rs 6,307-crore penalty imposed by fair trade regulator CCI on the grounds of cartelisation.

The petitions relate to appeals against penalty of Rs 6,307 crore imposed by the Competition Commission of India (CCI) on 11 cement makers, as also a fine of Rs 73 lakh on the cement industry body CMA. The cement companies charged with cartelisation include Lafarge India, India Cement, JP Associates, Binani Cement Ambuja Cement, Madras Cement and JK Cement.

CCI had said in its 258-page order that the act and conduct of the cement companies establish that they are a cartel. The Commission holds that the cement companies acting together have limited, controlled and also attempted to control the production and price in the market in India.