The Competition Appellate Tribunal (Compat) has directed cement companies to pay 10 per cent of the penalty of Rs 6,307 crore imposed on them by the Competition Commission of India (CCI) for cartel

15% allowance on capital expenditure would help PSUs, too

India Inc has a good reason to step up capital expenditure (capex). With the Budget proposing an additional investment allowance of 15 per cent for assets acquired and installed in the next two years for over Rs 100 crore in capital spending, companies are expected to get a total benefit of Rs 25,000 crore.
According to an estimate by the Centre for Monitoring Indian Economy (CMIE), India Inc plans fresh capital expenditure of around Rs 5,00,000 crore in 400 projects in the next two financial years.

New Delhi Eleven cement makers whom the fair trade regulator CCI has found guilty of adopting anti-competitive practices, on Thursday approached Competition Appellate Tribunal (COMPAT) challenging its July 30 findings.

It issued notices to the Competition Commission of India and listed the matter for next hearing on November 22. The 3-member COMPAT bench, headed by its chairman Justice VS Sirpurkar, however, asked the CCI not to take any coercive action against Shree Cement Ltd against whom penalty of Rs 397.51 crore was imposed by the regulator on July 30.

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.

The Competition Commission of India (CCI) has imposed a penalty of Rs 397.51 crore on Shree Cement for indulging in restrictive trade practices.

New Delhi After penalising 11 cement companies last month for violating the provisions of the Competition Act, 2002, the Competition Commission of India (CCI) on Monday found Shree Cement also guilty of cartelisation. As a result, CCI has imposed a penalty of R397.51 crore penalty on Shree Cements, fixed at 0.5 times of the company's net profit for the year 2009-10 and 2010-11.

CCI had not found Shree Cement guilty in its June 21 order in which it had imposed a financial penalty of about R6,200 crore on 11 cement companies and their trade association — Cement Manufacturers Association (CMA).

SHREECEMENT-ANTITRUST-FINE:Shree Cement fined $72 mln by anti-trust regulator

Shree Cement Ltd has been fined $72 million by the Competition Commission of India (CCI), the anti-trust regulator said in a statement, making it the twelfth cement company to be fined in a crackdown on cartelisation in the industry. Eleven cement makers were fined a combined $1.1 billion by the CCI in June for collusion and price fixing, in the biggest penalty ever imposed by the increasingly assertive regulator.

New Delhi: Leading cement makers such as Binani Cement, Shree Cement and ACC Cement are embracing the use of alternative fuels, energy-efficient production and new technology to cut down the carbon footprint of an industry that globally releases 5% of man-made carbon emissions.

New Delhi: Shree Cement on Sunday said it had entered into a memorandum of understanding with the Karnataka government to invest Rs 2,000 crore for setting up a cement unit and a power plant.

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.