UltraTech Cement - September 2016
UltraTech is one of 10 companies being fined by the Competition Commission of India (CCI) for allegedly conspiring to fix cement prices, contravening competition law. The total fine amounts to US$944m, 76 per cent of which is being borne by UltraTech, Jaiprakash Associates, Ambuja Cements and ACC. Other firms being penalised include Lafarge Century, Ramco, India Cements, Binani and JK Cements. The Cement Manufacturers Association (CMA) is also been ordered to pay US$110,000.