The Competition Commission of lndia vide their order dated June 20, 2012, which is uploaded on their web site this evening, has upheld the complaint of Builders Association of India alleging cartelization against the cement manufacturers including the Company, and passed the directions that the opposite parties to 'cease and desist' from indulging in any activity relating to agreement, understanding or arrangement on prices, production and supply of cement in the market and imposed penalty of Rs.1,175 crores against the Company.

The Company will take appropriate action after having fully examined the order.

Source - Equity Bulls

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