Over Rs.6,300 crore penalty slapped on 11 cement firms for cartel sale
They were found to be reducing supplies and increasing prices
In a ‘body blow’ to the industry, which is fighting a demand slide, the Competition Commission of India (CCI) has slapped a hefty penalty of over Rs.6,300 crore on 11 cement producers, who were found violating the provisions of the Competition Act, 2002. The Act deals with anti-competitive agreements, including cartels.
Publication Date:
22/06/2012