CCI starts investigation into Ambuja and ACC

The Competition Commission of India (CCI) has initiated an investigation against ACC and Ambuja Cements and other cement companies in the country regarding alleged anti-competitive behaviour, according to regulatory filings.

"ACC is of the firm view that it has acted and continues to act in compliance with competition laws and we are fully cooperating with the investigation and providing all necessary information to the authorities. ACC has a long-standing commitment to fair competition as reflected in its Code of Business Conduct," said ACC in a statement.

In a separate filing, Ambuja Cements released a similarly-worded statement.