Kudos! CCI found some gumption and imposed a heavy fine on 11 cement companies, which they found guilty of collusion and cartel-ization . However what is ironic is that this was done on the basis of a complaint by builders association. Wonder who will investigate the cartel among the builders themselves. Despite severe cash crunch faced by these builders and leverage to support land banks, the real estate prices go up every month, like clock work.
The eleven cement manufacturers, on whom the penalty has been imposed, are ACC, Ambuja Cements Limited, Ultratech Cements, Grasim Cements now merged with Ultratech Cements, JK Cements, India Cements, Madras Cements, Century Cements, Binani Cements, Lafarge India and Jaypee Cements.