The Supreme Court today directed 10 cement manufacturing companies to pay Rs 630 crore by June 24 as a pre-condition for hearing their appeals against a penalty of Rs 6,300 crore imposed on them fo

The commission in its Q1 on June 20 had imposed a penalty of Rs 6,307.32 crore on 11 cement companies

Cement manufactures, which have been slapped a penalty of over Rs 6,700 crore for price cartelisation, will have to comply with the order of the Competition Commission of India (CCI) within 90 days from the issue of the same, Parliament was informed today. The CCI in two cases has found 11 cement manufacturers... "in contravention of Section 3(3) (a) and 3 (3) (b) read with section 3 (1) of the Competition Act. The loss to consumers due to such violations has not been quantified," Minister of State for Corporate Affairs R P N Singh said in a written reply to the Rajya Sabha.

North India-based J K Lakshmi Cement has dropped its plan of last year to acquire a cement company in Egypt for Rs 800 crore.

New Delhi: With some of the plants operating at the lowest energy consumption levels, the Indian cement industry has become a forerunner in energy-efficient cement manufacturing in the world, according to yet to be released FE-EVI Green Business Survey 2009-10.

8 companies plan to add 22-mt capacity.

Addition of new capacities on the back of a fall in demand has led to a downturn in capacity utilisation in the industry.

Suresh P. Iyengar

Mumbai, Feb. 14

The Gujarat Government's decision to put its mining policy on the fast track will give a new lease of life to eight cement companies that plan to add 22 million tonnes of capacity.