Builders Association of India (BAI) statement comes after Competition Commission of India launched raids against LafargeHolcim, parent firm of ACC and Ambuja Cements, as well as on Aditya Birla group firm UltraTech Cement and Shree Cement.
Cement stks dip as CCI raids cement cos on price cartelisation allegations business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
CCI initiates investigation against cement companies in India
ACC said it is of the firm view that it has acted and continues to act in compliance with competition laws and we are fully cooperating with the investigation and providing all necessary information to the authorities.
By: PTI | New Delhi | December 10, 2020 12:26:46 pm
Sacks of cement at a warehouse in the Chitpur area of Kolkata, India, on Thursday, Nov. 26, 2020. (Photographer: Arko Datto/Bloomberg)
ACC and Ambuja Cements on Thursday said fair trade regulator CCI has initiated an investigation against them and other cement companies in the country regarding alleged anti-competitive behaviour.
“The Competition Commission of India (CCI) has initiated an investigation against cement companies in India including ACC regarding alleged anti-competitive behaviour,” ACC Ltd said in a regulatory filing.
ACC said it is of the firm view that it has acted and continues to act in compliance with competition laws, and we are fully cooperating with the investigation and providing all necessary information to the authorities.
ACC said it is of the firm view that it has acted and continues to act in compliance with competition laws and we are fully cooperating with the investigation and providing all necessary information to the authorities.