India: CCI closes cement case

The Competition Commission of India (CCI) has closed a case of alleged cartelisation among cement companies due to a lack of evidence.

An anonymous reference before the CCI had alleged that 11 cement companies increased prices by INR75/bag (US$1.21/bag) within a month. In its order, the CCI noted that the reference states that the price increased from INR230-250 to INR300-330/bag after the general elections in Andhra Pradesh. The order didn't specify the exact period over which the price rise took place.

However, since the reference provided no documentary evidence in support of its allegations, the CCI ruled not to order an investigation.

"Save and except alleging an increase in price of cement bag by the named cement companies, no other allegation or averment has been laid in the reference where from even a prima facie satisfaction may be recorded about the existence of a cartel," the CCI order said.

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