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New UserRealty Body’s NCR chapter to boycott Shree Cement
11 Jul 2016
The NCR chapter of the Confederation of Real Estate Developers'
Associations of India has decided to boycott Shree Cement on complaints alleging arbitrary
price increases and creating a shortage of the building material.
The real estate industry body also plans to file a complaint with the Competition Commission
of India. "Shree Cement is arbitrarily increasing prices and stopping supply in between,
demanding a price revision, despite taking an advance.
This is unacceptable to us and we have asked our members to boycott the company," a CREDAI NCR spokesperson said. "We will
definitely move CCI very soon." The builder body also alleged that cement manufacturers are creating a false shortage of the building
material.
"Through excuses such as plant not functioning properly, issues with transportation, etc., these companies are not meeting the delivery
deadlines, thereby affecting the builders' construction timelines," the spokesperson said.
An email questionnaire sent to Kolkatabased Shree Cement did not elicit any response. CREDAI's Western Uttar Pradesh chapter last
week complained of cement price cartelisation, with companies allegedly increasing prices from Rs 190 per bag to Rs 300 per bag in the
past four months and delaying delivery.
CREDAI had moved CCI against cement manufacturers in October, accusing them of cartelisation. The body's NCR chapter had also
stopped procurement of cement from Ultratech and Lafarge, alleging cartelisation and malpractices.
However, the decision was reversed after the companies reduced cement prices. The Builders' Association of India had filed a complaint
with the CCI in 2010 against 10 top cement manufacturers and the Cement Manufacturers' Association.
The CCI imposed a penalty of Rs 6,300 crore on these cement companies in June 2012. The Competition Appellate Tribunal stayed the
order in 2013 and asked the companies to deposit 10 per cent of the amount until a decision is taken on their appeal. The case is still
pending.
Source: ET