CCI imposes fine of over Rs 200 cr on cement cos

 The Competition Commission of India (CCI) has imposed Rs 206 crore penalties on seven cement companies for bid rigging and cartelisation.

CCI has held that the cement companies, through their impugned conduct, have engaged in bid-rigging that has been established from quoting unusually higher rates in impugned tender (than rates quoted in tenders of previous years).

Shree Cement, UltraTech Cement, Jaiprakash Associates, J K Cement, Ambuja Cements, ACC and J K Lakshmi Cement have been penalised for violating competition norms with regard to a tender floated by a Haryana agency back in 2012, CCI said.
UltraTech has been fines 

Rs 68.3 crore, Jaiprakash Associates Rs 38.02 crore, Shree Cement Rs 18.44 crore, J K Cement Rs 9.26 crore, Ambuja Cement Rs 29.84 crore, ACC Rs 35.32 crore and J K Lakshmi Cement Rs 6.55 crore.

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