The Competition Appellate Tribunal (Compat) has directed cement companies to pay 10 per cent of the penalty of Rs 6,307 crore imposed on them by the Competition Commission of India (CCI) for cartel

The Virbhadra Singh-led Congress government, in a late evening cabinet decision on Wednesday, decided to grant licence to Reliance Industries for setting up a cement plant in the Chopal tehsil of a

India Cements is looking at expanding its capacity in Rajasthan with an investment of Rs 650-700 crore. The plan comes in view of the growing demand in Gujarat and Madhya Pradesh.

N Srinivasan, vice chairman and managing director, India Cements, said, “We are examining whether we can expand the capacity at the Rajasthan plant.” The present capacity of the plant is 1.3 million tonnes, and the company is planning to add one more line with similar capacity.

New Delhi Competition Appellate Tribunal today served notices to the Competition Commission and the Builders Association of India, on whose complaint the fair trade regulator had imposed a penalty of Rs 6,307 crore on 11 cement firms on charges of cartelisation.

Hearing an appeal by cement companies, including UltraTech and ACC, the tribunal also asked the CCI not to take any coercive action in the matter till October 11, when the COMPAT would next hear the case.

The commission in its Q1 on June 20 had imposed a penalty of Rs 6,307.32 crore on 11 cement companies

Cement manufactures, which have been slapped a penalty of over Rs 6,700 crore for price cartelisation, will have to comply with the order of the Competition Commission of India (CCI) within 90 days from the issue of the same, Parliament was informed today. The CCI in two cases has found 11 cement manufacturers... "in contravention of Section 3(3) (a) and 3 (3) (b) read with section 3 (1) of the Competition Act. The loss to consumers due to such violations has not been quantified," Minister of State for Corporate Affairs R P N Singh said in a written reply to the Rajya Sabha.

New Delhi After penalising 11 cement companies last month for violating the provisions of the Competition Act, 2002, the Competition Commission of India (CCI) on Monday found Shree Cement also guilty of cartelisation. As a result, CCI has imposed a penalty of R397.51 crore penalty on Shree Cements, fixed at 0.5 times of the company's net profit for the year 2009-10 and 2010-11.

CCI had not found Shree Cement guilty in its June 21 order in which it had imposed a financial penalty of about R6,200 crore on 11 cement companies and their trade association — Cement Manufacturers Association (CMA).

They were found to be reducing supplies and increasing prices

In a ‘body blow’ to the industry, which is fighting a demand slide, the Competition Commission of India (CCI) has slapped a hefty penalty of over Rs.6,300 crore on 11 cement producers, who were found violating the provisions of the Competition Act, 2002. The Act deals with anti-competitive agreements, including cartels.

Ultratech, Ambuja, India Cement, Lafarge among those fined for cartelization

Competition watchdog CCI has levieed penalty of nearly Rs 6,300 cr on 11 cement companies involved in price cartel. The companies include Binani Cement, Lafarge, Grasim, ACC, Ambuja, JK Cement, Madras Cement, India Cement, Jaypee and Ultratech. The companies have been fined 50% of their profit for the fiscal years ending in 2010 and 2011 and must pay the penalty within 90 days.

As India Cements Limited, which was helping the municipal corporation by taking a portion of the plastic garbage generated in the urban local body as a supplementary fuel in its kiln, has stopped taking the waste for the past two months, the civic body has been forced to look for a company afresh for using the non-recyclable refuse.

CHENNAI: The India Cements has reported a gross turnover of Rs. 4,221.69 crore for the year ended March 31, 2010, up from Rs. 3,954.53 crore in the previous year. The operating profit before interest and depreciation is lower at Rs. 863.51 crore against Rs. 1,043.20 crore. Foreign exchange transaction difference has resulted in an exceptional gain of Rs. 43.57 crore against a loss of Rs.