CCI fines India Cements with penalty of Rs 187.48 cr

India Cements Ltd has informed BSE that Competition Commission of India (CCI) has passed the Order under section 27 of the Competition Act, 2002 passed by Competition Commission of India on June 20, 2012 against a number of cement manufacturing Companies including the Company for anti-competitive agreements and abuse of dominant position. The Commission has imposed a penalty of Rs. 187.48 crores on the Company.The Company advised that there is no basis for passing orders against the Company. The Company is taking necessary action to file an appeal before the relevant appellate authority for withdrawal or cancellation of the order against the Company.Source : BSE

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