Millennium Post

COMPAT takes note of cement cartel case

Competition Appellate Tribunal on Thursday served notices to the Competition Commission and the Builders Association of India, on whose complaint the fair trade regulator had imposed a penalty of Rs 6,307 crore on 11 cement firms on charges of cartelisation.

Hearing an appeal by cement companies, including UltraTech and ACC, the tribunal also asked the CCI not to take any coercive action in the matter till 11 October, when the COMPAT would next hear the case.

In their petitions, the cement firms have requested the tribunal to quash the entire CCI order. They have also requested the COMPAT to grant an interim stay on the CCI's penalty till the tribunal decides on their petitions.

Cement Manufacturers Association has also challenged CCI’s findings along with the producers. The companies whose petitions were heard included Ultra Tech Cement, Lafarge India, India Cement, etc.
PTI

PTI

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