Competition Commission of India (CCI) imposed a penalty of nearly 206 crore rupees on seven cement companies for bid-rigging and cartelisation. Shree Cement, UltraTech Cement, Jaiprakash Associates, JK Cement, Ambuja Cements, ACC and JK Lakshmi Cement have been penalised for violating competition norms with regard to a tender floated by a Haryana agency back in 2012. In its order, the Commission said, SMS and calls made among the officials of these companies also confirmed collusion for flouting norms. <br/><br/>The CCI directed these comapnies to cease and desist from such activities.<br/>After careful consideration, the regulator decided to slap penalties on the companies that is equivalent to 0.3 per cent of each of their average turnover for three financial years. Of the total penalty, over 68 crore rupees has been slapped on UltraTech followed by 38 crore rupees on Jaiprakash Associates. <br/>In an another order, the CCI has imposed penalties on three firms for bid rigging of tenders floated by Indian Railways for procurement of Brushless DC fans in 2013. It has slapped over two crore rupees penalty on Western Electric and Trading Company, over 15 lakh rupees on Pyramid Electronics and 20 lakh rupees on R Kanwar Electricals for violating the competition norms. The penalty was also imposed on persons-in charge of the three firms.

Competition Commission of India (CCI) imposed a penalty of nearly 206 crore rupees on seven cement companies for bid-rigging and cartelisation. Shree Cement, UltraTech Cement, Jaiprakash Associates, JK Cement, Ambuja Cements, ACC and JK Lakshmi Cement have been penalised for violating competition norms with regard to a tender floated by a Haryana agency back in 2012. In its order, the Commission said, SMS and calls made among the officials of these companies also confirmed collusion for flouting norms. <br/><br/>The CCI directed these comapnies to cease and desist from such activities.<br/>After careful consideration, the regulator decided to slap penalties on the companies that is equivalent to 0.3 per cent of each of their average turnover for three financial years. Of the total penalty, over 68 crore rupees has been slapped on UltraTech followed by 38 crore rupees on Jaiprakash Associates. <br/>In an another order, the CCI has imposed penalties on three firms for bid rigging of tenders floated by Indian Railways for procurement of Brushless DC fans in 2013. It has slapped over two crore rupees penalty on Western Electric and Trading Company, over 15 lakh rupees on Pyramid Electronics and 20 lakh rupees on R Kanwar Electricals for violating the competition norms. The penalty was also imposed on persons-in charge of the three firms.