Indian producers directed to pay 10% of CCI penalty

Indian producers directed to pay 10% of CCI penalty
Published: 17 May 2013

Tagged Under: Cartel Pricing India 

India’s Competition Appellate Tribunal has said that cement companies must pay 10 per cent of the INR6307 crore penalty issued to them by the Competition Commission of India (CCI) for cartel practices.

Passing an interim order, a COMPAT bench headed by its chairman Justice VS Sirpurkar asked the 11 producers in question along with the Cement Manufacturers Association to pay around INR630 crore within a month, according to reports by the Press Trust of India. The matter is scheduled for a final hearing in August.