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Ramco Cements to appeal COMPAT against CCI order

The Competition Commission of India has imposed a penalty of Rs 258.63 crore against the company for alleged cartelisation

Ramco Cements to appeal COMPAT against CCI order

RamcoCementshassaidthatthecompanyisplanningtogoonappealtoCompetitionAppellateTribunal(COMPAT),againsttheorderofCompetitionCommissionofIndia(CCI),whichimposedpenalityofRs258.63croreforallegedcartelisation. Thecompany,inaregulatoryfiling,saidthattheCCIhasimposedpenaltyonthecompanyandthecementcompanieshavebeendirectedtoceaseanddesistfromindulginginanyactivityrelatingtoagreement,understandingorarrangementonprices,productionandsupplyofcementinthemarket. CCIhasalsogivenatimeof60daysfromthedateof ...