CCI asked to provide details on cement cartel ruling, India
The Competition Appellate Tribunal (COMPAT) has asked the Competition Commission of India to submit fresh copies of its order levying over INR 6,300 crore (US$1.1bn)) in penalties on 11 cement companies for cartel practices, providing them with complete details on production, pricing and sales.
Hearing the appeals of the cement companies against the Competition Commission order of June 21, COMPAT asked it to issue a fresh copy of the direction to them within a week, according to reports in Hindu Business Line. CI had not disclosed various facts about matters including production, dispatches and pricing.
The companies, which include UltraTech and ACC, have been asked to file their amended petitions with the tribunal within two weeks of getting the fresh order. Following that the CCI would get one week to file its reply to the COMPAT.
The tribunal said the matter would be listed for further hearing within seven weeks, taking into account the fresh details from the CCI and the cement companies.
The COMPAT had served notices on September 13 to the CCI and the Builders’ Association of India, on whose complaint the fair trade regulator had imposed the penalty on 11 cement firms.
In their existing petitions, the cement firms had requested the tribunal to quash the entire CCI order and had also sought an interim stay on the CCI’s penalty till the tribunal decides on their petitions.
Industry body the Cement Manufacturers’ Association (CMA) has also challenged CCI’s findings along with the producers.
Other cement companies charged with cartelisation also include Lafarge India, India Cement, JP Associates, Binani Cement, Ambuja Cement, Madras Cement and JK Cement.
“The act and conduct of the cement companies establish that they are a cartel. The Commission holds that the cement companies acting together have limited, controlled and also attempted to control the production and price in the market in India,” CCI had said in its 258-page order.