LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

NCLAT dismisses cement-makers' plea against Rs 6,300 cr CCI penalty for cartelisation

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Jul 25, 2018
10:46 pm
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

The National Company Law Appellate Tribunal (NCLAT) today dismissed cement manufacturers' plea challenging the order of fair trade regulator CCI to impose a penalty of Rs 6,300 (rpt) 6,300 crore for alleged cartelisation.

A two-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya dismissed a batch of petitions by 10 (rpt) 10 cement makers.

The appeals are dismissed, said the NCLAT, which now is an appellate authority over the Competition Commission of India (CCI).

In August 2016, CCI had slapped approximately Rs 6,700 crore penalty on 11 cement firms including UltraTech, ACC, Ambuja, Ramco and JK Cement as well as the industry body Cement Manufacturers' Association (CMA) for indulging in cartelisation.

This was challenged by the cement makers before the Competition Appellate Tribunal, which had in November 2016 stayed the CCI's direction to pay 10 per cent of the penalty within a month of the order.

In the August 2016 order, apart from penalising the CMA, the CCI had directed all the firms to "cease and desist" from indulging in any activity relating to agreement, understanding or arrangement on prices, production and supply of cement in the market.

The CCI had imposed the highest penalty of Rs 1,175.49 crore on Aditya Birla group firm UltraTech.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

MTAR Technologies IPO Subscription details: Retail investors expect bumper listing

Karnataka Budget 2021: Big gift for Ram Temple Ayodhya pilgrims - All details here

Mid-Cap Picks with Anil Singhvi: JB Chemicals, Jindal Saw and KEC International are stocks to buy

Tesla expanding full self driving beta to more drivers: Elon Musk

SBI Cards: Credit Suisse gives outperform rating with price target of Rs 1250

NEET 2021 exam: Students don't miss to check the latest update on exam dates, eligibility criteria, registration process and all you need to know before appearing in the exam!

Exclusive: In chat with Anil Singhvi, SCI CMD Harjeet Kaur Joshi talks about divestment, business outlook and much more

Asus ROG Phone 5 set to launch in India on March 10: Here's all you need to know

Trading in Rakesh Jhunjhunwala Stocks II Technical’s decoded by Bonanza Portfolio

Yes Bank and SBI share price: Check what just happened to targets of these lenders

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved