Cartel investigation into leading Indian firms

Cartel investigation into leading Indian firms
Published: 16 June 2011

The Serious Fraud Investigation Office (SFIO), is investigating allegations of cartelisation against cement majors UltraTech Cement, Ambuja Cements and ACC, the Economic Times reports.



The SFIO is acting under the directions of the ministry of corporate affairs, which is its nodal ministry. The investigation will examine the conduct of the cement companies over a 10- year period, said one source.



UltraTech Cement and Ambuja Cements confirmed that an investigation is being carried out by the SFIO, and that the companies have already provided information and documents.