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Jun 21, 2012, 04.50 PM IST

CCI imposes 63-bln rupee fine on 11 cement firms

INDIA-CEMENT:CCI imposes 63-bln rupee fine on 11 cement firms

Source: Reuters
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CCI imposes 63-bln rupee fine on 11 cement firms
The Competition Commission of India (CCI) has fined 11 Indian cement companies a total of more than Rs 6000 crore in a price collusion investigation, the government said in a statement on Thursday.


UltraTech Cement , part of the diversified Aditya Birla Group, Holcim -controlled ACC Ambuja Cement India Cements and the Indian unit of France's Lafarge SA are among the companies penalised.


The companies have been fined 50% of their profit for the fiscal years ending in 2010 and 2011 and must pay the penalty within 90 days.


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Tags: CCI, cement, UltraTech Cement, ACC, Ambuja Cement , Lafarge SA
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