Download | < Back |
20 Jan 2017 | |
ACC Ltd has informed BSE that:<BR><BR>"The Competition Commission of India (CCI) has published on its website yesterday evening an Order against seven cement manufacturers including ACC Limited imposing a penalty calculated at the rate of 0.3% of the average turnover of the last three years 2012-13, 2013-14 and 2014-15. In respect of ACC Limited the amount of penalty works out to Rs. 35.32 Crores.<BR><BR>The said Order is issued on the basis of a complaint filed in 2013 by the Director, Supplies & Disposals, State of Haryana before the CCI alleging that the said cement companies including ACC had indulged in anti-competitive practices through collusive pricing and limiting supply.<BR><BR>We feel aggrieved by the conclusions of the Order and believe the Company has a strong case on merits to challenge it; we will therefore file an appeal to defend our position before the Competition Appellate Tribunal (COMPAT).<BR><BR>ACC Limited has a long-standing commitment to fair competition as reflected in its Code of Business Conduct with a robust programme to ensure compliance with fair competition practices that includes comprehensive policies for training." | |
View all announcements for ACC LTD. | Source: BSE India |