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New UserCCI slaps Rs 206 crore penalty on seven cement companies
20 Jan 2017
The competition watchdog has held seven cement companies guilty of bid
rigging and cartelisation and imposed a total fine of nearly . Rs 206 crore on them.
The companies are Shree Cement, UltraTech Cement, Jaiprakash Associates, JK Cement,
Ambuja Cements, ACC and JK Lakshmi Cement. The ruling relates to a tender floated by a
Haryana agency in 2012.
"The anticompetitive conduct was reaffirmed through SMS exchanged and calls made
amongst the officials of the cement companies," the finance ministry said in a statement.
In a 120page order, the Competition Commission of India also directed the companies "to
cease and desist" from such activities while imposing penalty equivalent to 0.3 per cent of
each of their average turnover for three financial years.
UltraTech has to pay the highest penalty of . Rs 68.30 crore, followed by Jaiprakash
Associates (Rs 38.02 crore), ACC (Rs 35.32 crore), Ambuja (Rs 29.84 crore), Shree Cement
(Rs 18.44 crore), JK Cement (Rs 9.26 crore) and JK Lakshmi Cement (Rs 6.55 crore).
The director of Supplies and Disposals in Haryana a procurement agency had filed the
case. The CCI had ordered a detailed probe into the matter in 2014.
RAILWAY TENDER
In a separate case, the CCI has imposed penalties on three firms for bid rigging on tenders
floated by Indian Railways for procurement of brushless DC fans in 2013.
The CCI took suo moto action under the Competition Act, 2002 based on information
received from the Central Bureau of Investigation.
Source: Economic TImes