The Competition Commission of India (CCI) has slapped a penalty of Rs 302 crore on Grasim Industries for abusing its dominant position with respect to supply of a certain staple fibre to spinners. Besides, the company has been directed to ‘cease and desist’ from indulging in anti-competitive practices as well as put in place a transparent ‘discount policy’ for all the market participants.
Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.
