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.
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/over-rs6300-crore-penalty-slapped-11-cement-firms-cartel-sale
[2] http://admin.indiaenvironmentportal.org.in/category/author/k-t-jagannathan
[3] http://admin.indiaenvironmentportal.org.in/category/newspaper/hindu-new-delhi
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/india-cement
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/madras-cements
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/binani-cement
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/lafarge-india
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/cement
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/cement-industry
[10] http://admin.indiaenvironmentportal.org.in/category/thesaurus/industry