Today, i.e. on 21st June 2012, the Hon’ble Competition Commission of India (CCI) has published an order against several cement manufacturers including Ambuja Cements and has fined the Company Rs. 1164 crores. The order relates to the competition law proceedings started in 2010 which aimed at investigating the conduct of several of leading cement manufacturers in India including Ambuja Cements.
In the context of the investigation, ACL has delivered all the information and clarifications requested by the authorities. However, ACL contests the allegations and findings against the company.
Ambuja Cements will appeal against this order to the Appellate Tribunal and will seek a stay on the aforesaid penalty.