Law360, New York (July 30, 2012, 2:54 PM ET) -- India's competition watchdog on Monday hit Shree Cement Ltd. with a fine of 3.98 billion rupees ($71.7 million) in connection with restrictive trade practice allegations, a move that follows more than $1 billion in cartel fines leveled last month against 11 cement companies.
The Competition Commission of India handed down the fine against Shree after concluding a review of allegations that several cement makers colluded to fix prices through an industry group called the Cement Manufacturers Association. The company is the 12th cement firm recently accused...
Indian Cement Co. Faces $72M Fine In Price-Fixing Probe
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