On 11 December 2015
UltraTech Cement announced that allowing an appeal filed by the Company, the Competition Appellate Tribunal (COMPAT) has by its order dated 11 December 2015 (uploaded on the COMPAT website), set aside order dated 20 June 2012 passed by the Competition Commission of India (CCI) upholding the complaint of alleged cartelization tiled by the Builders Association of India against some cement manufacturers, including the Company.COMPAT by its order, has remitted the matter to CCI for fresh adjudication relating to the alleged violation and has observed that the CCI shall pass a fresh order as early as possible, but not later than three months. Further, in terms of the order, COMPAT has stated that the Company shall be entitled to withdraw the amount deposited by it in compliance with the COMPAT interim order.
Powered by Capital Market - Live News
