Violation of Competition Act by Cement Companies in India

0
166

INDIACSR News Network

NEW DELHI: A large number of cement manufacturers have been found violating the provisions of the Competition Act, 2002. The Competition Commission of India (CCI) in two cases has found 11 cement manufacturers in contravention of Competition Act.

The Commission in its first order dated 20.06.2012 has imposed a penalty of Rs.6307.32 crores on 11 cement manufacturers. In its second order dated 30.07.2012, the Commission has imposed a penalty of Rs. 397.51 crores on Shree Cement Ltd.

This was stated in the Rajya Sabha by R.P.N. Singh, Minister of State in the Ministry of Corporate Affairs in reply to a USQ question today.

The directions of the Commission are to be complied within 90 days of receipt of the order(s).

Here is the list of companies violated the law :

1. Jaiprakash Associates

2. UltraTech,

3. Ambuja

4. ACC Cement,

5. Lafarge India,

6. Century Textiles

7. Madras Cements

8. Grasim Cements (now merged with UltraTech),

9. India Cements, Binani Cement

10. JK Cement

11. Cement Manufacturers Association

12. Shree Cement

Comments

comments

SHARE
Previous articleHR Factor: ‘Asking to Leave’ an obligation of management
Next articleBook Review: A Guide for Corporate Responsibility managers
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to editor@indiacsr.in