Competition Commission of India imposes US$944m fine for cartelisation

Competition Commission of India imposes US$944m fine for cartelisation

The Competition Commission of India (CCI) has levied a fine of INR63.2bn (US$944m) on 10 cement companies whom it accuses of conspiring to fix prices in contravention of competition law. In addition, the Cement Manufacturers Association has been ordered to pay a INR7.3m fine.

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