CCI slaps Rs 6,700 crore penalty on 11 cement companies for cartelization

The Competition Commission of India (CCI) has imposed more than Rs 6,700 crore penalty on 11 cement companies i.e. Jaiprakash Associates, UltraTech, Binani, Ramco, JK Cement, Lafarge, India Cements, ACL, ACC, Century, Shree Cement, besides Cement Manufacturers’ Association (CMA) - for cartelisation.

The final order has been passed by CCI, pursuant to the directions issued by the Competition Appellate Tribunal (CAT) remanding the matter back, while setting aside the original order of the fair trade regulator, which had had also imposed fine on cement companies.

CCI has imposed fine of Rs 1,323.60 crore on Jaiprakash Associates, Rs 1,147.59 crore on ACC, Rs 1,163.91 crore on ACL, Rs 167.32 crore on Binani, Rs 274.02 crore on Century, Rs 187.48 crore on India Cements, Rs 128.54 crore on JK Cement, Rs 490.01 crore on Lafarge, Rs 258.63 crore on Ramco and Rs 1,175.49 crore on UltraTech.