UltraTech Cement, the flagship cement company of the Aditya Birla Group, has denied being under investigation in an alleged anti-competitive practices case before the Competition Commission of India (CCI). In a regulatory filing, the company stated that it has not received any order from the CCI in Case No. 35 of 2020, nor has the competition watchdog sought its financials.
The company addressed reports circulating in the public domain regarding a probe into alleged violation of competition norms, calling them “false and misleading.” UltraTech clarified, “It is clarified that the Company is not under investigation in this Case No. 35 of 2020 before the Competition Commission of India (‘CCI’). The Company has neither received any order from the CCI in this case nor have the Company’s financials been sought by the CCI.”
UltraTech further stated that its subsidiary, India Cements Limited (ICEM), is a party to the case and is independently handling the matter. “India Cements Limited (‘ICEM’), a subsidiary of the Company, is party to Case No. 35 of 2020 and is separately making appropriate disclosures in this regard, while exploring legal options,” the filing said.
The company also warned that it may pursue legal action against the spread of misinformation, adding, “UltraTech Cement reserves its rights to take necessary legal steps in light of these misleading reports to protect its reputation.”
The case reportedly stems from a complaint filed by the Oil and Natural Gas Corporation (ONGC), which alleged violations of competition norms by certain cement companies.
The Competition Commission of India (CCI), established in 2003 under the Competition Act, is tasked with eliminating practices that have an adverse effect on competition. It promotes and sustains fair competition, protects consumer interests, and ensures the freedom of trade across Indian markets.
The CCI consists of a Chairperson and between two to six members, appointed by the Central Government. Apart from adjudicating cases, the Commission is also mandated to provide opinions on competition matters referred by statutory authorities, advocate for competition, create public awareness, and conduct training on related issues.
(From ANI)
