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CCI fines 10 cement companies and CMA for cartelisation

CCI fines 10 cement companies and CMA for cartelisation
02 September 2016 Current Affairs: The Competition Commission of India (CCI) has imposed penalties on 10 cement companies and their umbrella association - Cement Manufacturers Association (CMA) for cartelisation.

 The CCI has levied penalties on 10 cement companies viz. ACC, ACL,  Binani, Century, India Cements, JK Cements, Lafarge, Ramco, UltraTech and  Jaiprakash Associates.

The Builders Association of India (BAI) had filed complaint against the cement companies and the CMA alleging in fixing collectively prices of cement. 

It was alleged that these cement companies and the CMA shared details relating to prices, capacity utilisation, production and dispatch and thereby restricted output and supplies. 

Their collective was contravention of certain provisions of the Competition Act, 2002. It was also detrimental to the interests of consumers and the economy as cement is a critical basic input in construction and infrastructure industry.

Competition Commission of India (CCI)  : The CCI is quasi-judicial statutory body established under The Competition Act, 2002. 

It established in 2003 to eliminate practices that adversely affect competition in different industries and protect interests of consumers and ensure freedom of trade.

 Its predecessor was the MRTPC (Monopolies and Restrictive Trade Practices Commission) which was functional prior to 1991 Economic Reforms.


December 2016 Current affairs
9 DEC
NEWS
8 DEC
NEWS
7 DEC
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6 DEC
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5 DEC
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November 2016 Current affairs
30 NOV
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29 NOV
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28 NOV
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26 NOV
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25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
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September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
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