SFIO, was asked to look into price manipulation by three cement firms ACC, Ambuja and Ultratech between 2008 and 2010. SFIO had submitted its report recommending action against the management of these cement companies. The role of management in forming cartel comes under the purview of the Companies Act.
Corporate affairs minister Veerappa Moily on recently said that there were no signs of cartelisation by leading companies in the cement sector.
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