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Anti-Cartelization |
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| 24-3-2017 | |||||||||||||||||||||||
The Building Association of India (BAI) filed a case against cement firms and the Cement Manufacturers Association (CMA) on charges of cartelization The Competition Commission of India (CCI) inquired into the charges made by Building Association of India (BAI). CCI found that the cement companies used the platform of Cement Manufacturers’ Association (CMA) and shared details relating to prices, capacity utilization, production and dispatch, acting in concert in fixing prices of cement and thereby restricted production and supplies in the market contravening provisions of Section 3(1) read with Section 3(3)(a) and 3(3)(b) of the Competition Act, 2002. CCI vide order dated 31st August, 2016 imposed penalties on cement companies and CMA, as indicated below: -
The above cement companies and CMA were directed to deposit the penalty within 60 days from the receipt of the order and they have challenged the order of CCI before the Competition Appellate Tribunal. This was stated by Shri Arjun Ram Meghwal, Minister of State for Corporate Affairs in written reply to a question in Lok Sabha today. |
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