CCI fines cement firms

CCI fines cement firms
01/09/2016 , by , in ALLIED

The Competition Commission of India (CCI) on Wednesday has imposed Rs 6,700 crore penalty on 10 cement companies, including ACC and Binani, for cartelisation.

In a statement CCI said Rs 6,715-crore penalty has been imposed on 10 cement companies and the Cement Manufacturers Association (CMA).

A fine of Rs 1,147.59 crore has been imposed on ACC, while penalties on Jaiprakash Associates Ltd and Ultratech are Rs 1,323.60 crore and Rs 1,175.49 crore, respectively.

Going ahead, the fines on other companies are Rs 274.02 crore (Century), Rs 187.48 crore (India Cements), Rs 128.54 crore (J K Cements), Rs 490.01 crore (Lafarge), Rs 258.63 crore (Ramco), ACL (Rs 1,163.91 crore) and Binani (Rs 167.32 crore).

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