India's Antitrust Watchdog Hits Cement Cos. With $1.1B Fine

Law360, New York (June 21, 2012, 2:08 PM EDT) -- India's antitrust regulator on Thursday slapped almost a dozen cement manufacturers with a record 60 billion rupee ($1.1 billion) fine for allegedly colluding to raise the price of cement across the country.

The Competition Commission of India levied fines against 11 cement companies — including ACC Ltd., UltraTech Cement Ltd. and the Indian unit of Lafarge SA — as well as the Cement Manufacturers' Association for operating a cartel in violation of the country’s 2002 Competition Act.

“The commission holds that the cement companies acting together...
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