Cement firms to appeal against CCI
ON Thursday, Cement firms including ACC, Ambuja and India Cements said they will move COMPAT against fair trade regulator CCI's order to impose Rs 6,700 crore penalty, while others like Ultratech and Shree Cement adopted a wait-and-watch approach. The Competition Commission of India (CCI) on Wednesday had slapped an over Rs 6,700 crore penalty on 11 cement firms for indulging in cartelisation. In the meantime, CREDAI, the apex body of private real estate developers, said the judgement is "encouraging" for the entire construction ecosystem.
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