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.
NCLAT upholds CCI order imposing fine of Rs 6,300 cr on 11 cement companies, finds no merit in companies’ plea pic.twitter.com/CLIYvTMWBk
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