COMPAT reserves order on cement firms appeal, India

India’s Competition Appellate Tribunal (COMPAT) has reserved its order over a batch of appeals filed by cement producers contesting the INR63.07bn (US$1.1bn) penalty imposed by the Competition Commission of India for cartel practices.

According to Press Trust of India, a COMPAT bench reserved its order after hearing the submissions.

The CCI had found "cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anti-competitive agreements including cartels". The fine on 11 cement firms was the highest in the antritrust body’s three-year existence.