CCI Probes Cement Firms for Breaking Competition Rules
CCI Asks for Financial Records from UltraTech and Others
New Delhi: The Competition Commission of India (CCI) has made a big move. They’ve asked UltraTech, Dalmia Bharat Cements, and Shree Digvijay Cements to hand over their financial records. This comes after the CCI’s director general found that these companies may have broken competition rules.
Here’s what you need to know:
- UltraTech, which now owns India Cements, must share financial records.
- Dalmia Bharat Cements and Shree Digvijay Cements are also under the spotlight.
- These companies have eight weeks to give their audited financial statements to the CCI.
How Did This Happen?
The CCI started looking into this after ONGC complained. ONGC said that there was cartelization in its tenders. This complaint led the CCI to investigate if these cement companies were involved in anti-competitive practices.
What Happens Now?
The CCI will go through the financial records. They’ll look for any signs of cartelization or other competition rule breaks. This investigation is a big deal. It’s important for keeping trade fair in the cement industry.
