The Competition Commission of India (CCI) passed a landmark judgment against Indian major cement companies, it may pass another adverse order against cement makers in the next one week to ten days.
The new order against cement firms would be in response to a complaint filed in the year 2006 in the now defunct MRTPC (Monopolies Restrictive Trade Practices Commission).
There were 2 complaints that were filed against cement cartelisation. One was filed in 2010, July which was disposed off recenly. The other compliant was filed in 2006 in the defunct MRTPC.
Recenly, when the order had come out many legal experts felt that it had clubbed both the complaints & imposed fine. But, little did they know that tucked away on page 253 in the final order CCI said that this order did not take into account the compliant that was filed in the year 2006 and that would be disposed off separately which is currently pending in the commission.
For CCI's recent 258 pages order details ! Click the following link..!
http://www.cci.gov.in/May2011/OrderOfCommission/CaseNo29of2010MainOrder.pdf
Major sources also said, ''This is also going to be an adverse order because the Director General investigation had found evidence of cartelisation in this case also. Even though they will not be imposing any fine on these companies because the broad principles of anti-competition has already been established."
They, however, said this is only going to strengthen the case of competition commission against the cement companies.
Src: CNBC-TV18
The new order against cement firms would be in response to a complaint filed in the year 2006 in the now defunct MRTPC (Monopolies Restrictive Trade Practices Commission).
There were 2 complaints that were filed against cement cartelisation. One was filed in 2010, July which was disposed off recenly. The other compliant was filed in 2006 in the defunct MRTPC.
Recenly, when the order had come out many legal experts felt that it had clubbed both the complaints & imposed fine. But, little did they know that tucked away on page 253 in the final order CCI said that this order did not take into account the compliant that was filed in the year 2006 and that would be disposed off separately which is currently pending in the commission.
For CCI's recent 258 pages order details ! Click the following link..!
http://www.cci.gov.in/May2011/OrderOfCommission/CaseNo29of2010MainOrder.pdf
Major sources also said, ''This is also going to be an adverse order because the Director General investigation had found evidence of cartelisation in this case also. Even though they will not be imposing any fine on these companies because the broad principles of anti-competition has already been established."
They, however, said this is only going to strengthen the case of competition commission against the cement companies.
Src: CNBC-TV18
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