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NCLAT upholds Competition Commission's Rs 6.3k-crore fine on 11 cement companies

The fine was imposed by the CCI in June 2012 for reportedly violating provisions of the Competition Act 2002, and was stayed by the Competition Appellate Tribunal (compat) in 2013

July 25, 2018 / 05:42 PM IST

The National Company Law Appellate Tribunal (NCLAT) has upheld the Rs 6,300-crore penalty that Competition Commission of India (CCI) had imposed on 11 cement companies earlier.

The tribunal said that it took the cement companies’ pleas into account but found no merit in them.

The companies, including a cement manufacturers’ association, have stated that they would challenge the decisions, taken by both NCLAT and the CCI, in the Supreme Court.