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Business News/ Politics / Policy/  Cement cartel case: next hearing on 13-14 March
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Cement cartel case: next hearing on 13-14 March

Cement makers were asked to present common points against the Competition Commission of India’s ruling

Eleven cement firms were fined Rs 6,000 crore last year by India’s antitrust regulator on charges of coordinated price-fixing. Photo: Priyanka Parashar/Mint (Priyanka Parashar/Mint)Premium
Eleven cement firms were fined Rs 6,000 crore last year by India’s antitrust regulator on charges of coordinated price-fixing. Photo: Priyanka Parashar/Mint
(Priyanka Parashar/Mint)

Mumbai: The Competition Appellate Tribunal will on 13-14 March continue hearing the case involving 11 cement firms who were fined over 6,000 crore last year by India’s antitrust regulator on charges of coordinated price-fixing.

The tribunal heard the second round of representations made by the cement makers between 18 February and Monday, two executives from different firms said on condition of anonymity.

“All the companies have still not been heard," said one of the executives. “It may take long."

The first round of hearings took place in January.

The Competition Commission of India in June imposed a collective penalty of over 6,000 crore on 11 cement producers on charges of cartelization. Another cement maker faced charges under the Monopolies and Restrictive Trade Practices Act.

All the companies were asked to present common points against the Commission’s ruling at the Tribunal, the top authority to finally adjudicate on such matters.

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Published: 05 Mar 2013, 04:31 PM IST
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