<p> The Competition Commission of India (CCI) has imposed Rs 206 crore penalties on seven cement companies for bid rigging and cartelisation.<br /><br /></p>.<p>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).<br /><br />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.<br />UltraTech has been fines <br /><br />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.<br /><br /></p>
<p> The Competition Commission of India (CCI) has imposed Rs 206 crore penalties on seven cement companies for bid rigging and cartelisation.<br /><br /></p>.<p>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).<br /><br />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.<br />UltraTech has been fines <br /><br />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.<br /><br /></p>
