India: CCI closes case against 11 cement companies

The Competition Commission of India (CCI) has closed a case of alleged cartelisation among cement companies for lack of evidence. An anonymous reference had alleged that the cement producers had increased prices by INR75/bag (US$1.21) within the period of a month, according to HN Mint news service.

The companies were named as Penna Cements, India Cements, Ramco Cements, Bharathi Cements, Dalmia (Bharat) Cements, Bhavya Cements, Zuari Cements, Ultratech Cements, Jaypee Cements, KCP Cements and My Home Cements.

The CCI said that the reference states that the price increased from INR230-250/bag to INR300-330/bag after the general elections in Andhra Pradesh, but had not supported its allegations with documentary evidence. Hence, the CCI considered an investigation inappropriate.