49 CCI noted "the action of the cement companies and CMA as being not only detrimental to the interests of consumers but also as detrimental to the whole economy, as cement is a critical input in construction and infrastructure industry - and thus vital for the economic development of the country.91 crore (ACL) and Rs 167.59 crore has been imposed on ACC, while penalties on Jaiprakash Associates Ltd and Ultratech are Rs 1,323. CMA has been further directed to disengage and disassociate itself from collecting wholesale and retail prices through member cement companies or otherwise. Further, CCI also found cement companies to be acting in concert in fixing prices of cement.63 crore (Ramco), Rs 1,163.The fines on other companies are Rs 274.CCI held the cement companies and CMA in contravention of competition act. Also, CMA has been restrained from collecting and circulating the details relating to production and dispatch by cement companies. In a separate order, CCI has also imposed a penalty of Rs 397 crore upon Shree Cement Limited.
It also imposed a penalty on Cement Manufacturers Association (CMA).73 crore.54 crore (J K Cements), Rs 490. It was noted that the cement companies used the platform provided by CMA and shared details relating to prices, capacity utilisation, production and dispatch and thereby restricted production and supplies in the market.32 crore (Binani), according to the release.48 crore (India Cements), Rs 128. CMA faces a fine of Rs 0."CCI directed cement companies and CMA to cease and desist from indulging in any China Flange series activity relating to agreement, understanding or arrangement on prices, production and supply of cement in the marketA fine of Rs 1,147.Competition Commission of India (CCI) on Wednesday imposed over Rs 6,700 crore penalty on 11 cement companies, including ACC and Binani, for cartelisation.
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