Press Information Bureau

Government of India

Ministry of Corporate Affairs

13-August-2012 18:38 IST

Violation of Competition Act by Cement Companies

A large number of cement manufacturers have been found violating the provisions of the Competition Act, 2002.The Competition Commission of India (CCI) in two cases has found 11 cement manufacturers in contravention of Competition Act.

The Commission in its first order dated 20.06.2012 has imposed a penalty of Rs.6307.32 crores on 11 cement manufacturers. In its second order dated 30.07.2012, the Commission has imposed a penalty of Rs. 397.51 crores on Shree Cement Ltd. This was stated in the Rajya Sabha by Shri R.P.N. Singh, Minister of State in the Ministry of Corporate Affairs in reply to a USQ question today.

The directions of the Commission are to be complied within 90 days of receipt of the order(s).

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RC/JR

Competition Act contraventions resulted in regulatory penalties and directives requiring compliance within a set deadline. The Competition Commission of India found multiple cement manufacturers in contravention of the Competition Act, 2002 and imposed monetary penalties in two separate orders; the Commission's directions must be complied with within the specified period after receipt of the orders.