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May 30, 2020

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Ambuja Cement moves SC against Rs. 6,300-cr CCI fine.

Some cement makers as Ambuja Cement moved the Supreme Court against the NCLAT’s ruling that upheld the fair trade regulator CCI’s order to impose a penalty of Rs. 6,300 crore for alleged cartelization on 11 manufacturers. In August 2016, CCI had slapped approximately Rs 6,300 crore penalties on 11 cement firms including UltraTech, ACC, Ambuja, Ramco and JK cement as well as the industry body Cement Manufacturers Association (CMA) for indulging in cartelisation. CCI had imposed the highest penalty of Rs 1,175.49 crore on Aditya Birla group firm Ultra Tech. Challenging the NCLAT’s July 25 order, Ambuja said that the Read More
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