India: The Competition Appellate Tribunal (COMPACT) has ordered cement producers to pay 10% of a US$1.15bn fine imposed on them by the Competition Commission of India (CCI) for a price-fixing cartel. The tribunal asked 11 Indian cement producers to pay the fine within 30 days otherwise their appeal against the fine will be dismissed.
COMPAT had reserved its order over a batch of petitions filed by various cement producers and the Cement Manufacturer's Association (CMA) on 18 March 2013 after hearing them on an interim plea. In the petitions, the cement producers had challenged US$1.15bn penalty imposed on them by the Competition Commission of India (CCI) and a US$133,000 fine imposed on the CMA. The cement companies charged with cartel behaviour include Lafarge India, India Cement, JP Associates, Binani Cement, Ambuja Cement, Madras Cement and J K Cement.
The CCI had found cement producers were in violation of the provisions of the Competition Act, 2002 which deals with anti-competitive agreements, including cartels. The order was passed following probe by CCI Director General (Investigation) on a complaint filed by Builders Association.
