CCI imposes 63-bln rupee fine on 11 cement firms

INDIA-CEMENT:CCI imposes 63-bln rupee fine on 11 cement firms

The Competition Commission of India (CCI) has fined 11 Indian cement companies a total of more than 60 billion rupees in a price collusion investigation, the government said in a statement on Thursday.

UltraTech Cement , part of the diversified Aditya Birla Group, Holcim -controlled ACC and Ambuja Cement , India Cements and the Indian unit of France's Lafarge SA are among the companies penalised.

The companies have been fined 50 percent of their profit for the fiscal years ending in 2010 and 2011 and must pay the penalty within 90 days.

(Reporting by Abhisheck Vishnoi)