CCI imposes heaviest penalty against Cement cartel* Introduction Competition Commission of India (“CCI”) vide its order dated June 20, 2012 in Builders Association of India Vs Cement Manufactures (case no. 29/2010) has, inter alia, imposed a penalty at 0.5 % times of their profit for the year 2009-10 and 2010-11 on 11 cement manufacturers. The penalty amounting to INR 6,306.59 crores (INR 63.06 Billion) has been imposed for their alleged limiting and controlling supplies in the market and determining prices through an anti competitive agreement. The full text of the decision is available on the website of CCI (www.cci.gov.in). We present herein a brief synopsis of the order dated June 20, 2012 by CCI, as under: Main Allegations against Cement Manufactures It was alleged by the
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The Indian Competition Authority fines 11 major cement manufacturers with a record fine for forming a cartel (Builders’ Association of India / Cement Manufacturers’ Association)
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