The National Company Law Tribunal (NCLAT) upheld CCI’s Rs. 6300-crores fine on 11 cement companies for cartelization.

NCLAT said that it has found no merit in pleas of cement firms.

Earlier, in 2012, CCI had imposed a penalty of Rs. 6,300 crores on the cement companies for using Cement Manufacturers Association (CMA) as a platform to share details relating to prices, capacity utilization, and production and thereby restricted production and supplies in the market. A penalty had also been imposed on the CMA. 

However, on appeal to erstwhile Competition Appellate Tribunal (COMPAT), the matter was remanded to CCI for fresh adjudication.

CCI had re-heard and reaffirmed its previous order on 31.08. 2016.

The cement companies, which included Jaiprakash Associates Ltd., ACC Ltd., Ambuja Cement Ltd., among others, had then filed a petition challenging these penalties.