Asia / Oceania
CCI orders on cement cartels soon
Jun, 06 2012
(India) -- The Competition Commission of India has said that the final orders on tyre and cement cartels are in the final stages and are expected in the next two-three weeks.
The CCI is probing alleged cartelisation by tyre and cement manufacturers. It may impose hefty penalties on the companies that are found guilty. These companied will be penalized once the investigation report is made public.
The CCI initiated investigation into ‘cement caterlisation’ over a year back and has now reached its final conclusion.
On coming out with the final order, the Competition Act empowers the panel to impose a fine of up to 10% of the average turnover in the last three preceding years.
By: Rashmi Kalia (ARI-C NEWS)
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