Cement companies in the South eye exports
With rupee depreciating, companies feel they can compete with local companies abroad. At a time when the market in the South has slowed down, resulting in poor offtake of cement, rupee depreciation has
Madras Cements
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No major impact of tribunal order: Analysts
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 cartelisation.
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Cement cos move tribunal against CCI order
New Delhi Eleven cement makers whom the fair trade regulator CCI has found guilty of adopting anti-competitive practices, on Thursday approached Competition Appellate Tribunal (COMPAT) challenging its July 30 findings. It issued notices to the Competition Commission of India and listed the matter for next hearing on November 22. The 3-member COMPAT bench, headed by its chairman Justice VS Sirpurkar, however, asked the CCI not to take any coercive action against Shree Cement Ltd against whom penalty of Rs 397.51 crore was imposed by the regulator on July 30.
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Cement cartel: COMPAT notice to CCI
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.
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Cement cos told to comply with CCI's order within 90 days
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.
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CCI imposes R397-cr fine on Shree Cements
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).
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Over Rs.6,300 crore penalty slapped on 11 cement firms for cartel sale
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.
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Power plant: concern over water, air pollution
Villagers fear adverse effect on agriculture operations VIRUDHUNAGAR: Collector M. Balaji has instructed the officials of Madras Cements Limited (MCL) to take up various confidence building measures to clear environmental concerns of the people of eight panchayats in and around R.R.
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Polluters don t pay
<script language='javascript'> function graph() { var popurl="image/20051231/36_graph.jpg" winpops=window.open(popurl,"","width=250,height=250,scrollbars=yes") } </script> Cement manufacturing is a dry process: from mining limestone to packaging cement. An average cement plant handles and stores millions of tonnes of raw material annually.