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India cement companies move tribunal against CCI order
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Sunday, 04 Nov 2012

Economic Times reported that 11 cement makers, whom the fair trade regulator CCI has found guilty of adopting anti competitive practices, approached Competition Appellate Tribunal challenging its July 30th findings.

It issued notices to the Competition Commission of India and listed the matter for next hearing on November 22nd.

The 3 member COMPAT bench, headed by Mr VS Sirpurkar chairman of COMPAT, however asked the CCI not to take any coercive action against Shree Cement Ltd against whom penalty of INR 397.51 crore was imposed by the regulator on July 30th.

CCI had not imposed penalty on the other 10 cement makers that day as it had done so already in a separate order passed on June 21st. It had imposed INR 6,307 crore penalties on them, along with industry body Cement Manufacturers Association, on charges of price cartelization.

The cement firms have already challenged the June 21st order before the tribunal, and today's petitions were against the order passed by CCI on July 30th against them.

Meanwhile, the companies which were asked to pay penalty on June 21st were ACC, Ambuja Cements, Ultratech, Jaypee Cements, Grasim Cements now, Ultratech Cements, Lafarge India, JK Cement, India Cements, Madras Cements, Century Cements and Binani Cements.

Source - Economic Times


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