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Cement Cartel: A lesson in regulation
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| 25/06/2012 06:43 PM |
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Competition Commission of India again delivers on its mandate. If only older regulators had as much spine as CCI
By imposing a stunning penalty of Rs6,307 crore on 11 cement companies for price fixing and cartelisation, the Competition Commission of India (CCI) has once again shown that it will not hesitate to use its powers against market abuses. The penalty is calculated at 50% of their profit for the years FY09-10 and FY10-11 and covers some of the biggest and most powerful names in the cement sector such as Ambuja Cements, ACC, Grasim (now merged in UltraTech), Madras Cements, ...
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