New Delhi Finding around a dozen cement companies guilty of indulging in price cartalisation, the Competition Commission of India (CCI) is said to have slapped a penalty of R3,000 crore on them. The penalty amounts to 8% of the three years’ average turnover of these 11 companies, sources said.

The CCI had not put up the order on its website at the time of filing this report. According to agency reports, the CCI found the 11 companies in violation of Section 3 and 4 of the competition laws.