Did UltraTech Cement Face a CCI Investigation in Cement Cartelisation?
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Synopsis
UltraTech Cement has strongly denied recent claims of an investigation by the CCI regarding cartelisation in the cement industry. The company asserts that it is not under any scrutiny and has received no orders related to this matter. Additionally, a subsidiary, India Cements Limited, is involved in a separate case but has yet to face penalties.
Key Takeaways
- UltraTech Cement Ltd. refutes CCI investigation claims.
- Media reports labeled as "false and misleading".
- India Cements Limited is involved in a separate case but faces no penalties.
- Chief Legal Officer, Anoop Khatry, resigns effective July 3, 2025.
- Transparency in corporate governance is crucial.
Mumbai, July 5 (NationPress) UltraTech Cement Ltd. firmly refuted claims regarding an investigation by the antitrust authority, the Competition Commission of India (CCI), concerning alleged violations of competition regulations.
In a statement to the stock exchange, the Aditya Birla Group company labeled these media reports as "false and misleading" and emphasized that it is not facing scrutiny in a case initiated in 2020.
According to the stock exchange filing, "The company has neither received any order from the CCI in this case nor have the company’s financials been sought by the CCI."
Furthermore, it added, "It is clarified that the Company is not under investigation in this Case No. 35 of 2020 before the Competition Commission of India."
It was highlighted that India Cements Limited, 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.”
In a related exchange filing, India Cements Limited (ICEM) noted that it has yet to receive the complete version of the CCI investigation report under the Competition Act, 2002.
ICEM stated, “ICEM is yet to receive a full version of the investigation report of the Director General, under the Competition Act, 2002. ICEM is currently assessing its legal options. There is no finding by the CCI at this stage against ICEM and no financial penalty has been levied.”
In another development, UltraTech Cement Limited announced the resignation of its Chief Legal Officer, Anoop Khatry, effective from the close of business on July 3, 2025, citing personal reasons.
In the company’s exchange filing, it was stated, "We hereby inform you that Mr. Anoop Khatry, Chief Legal Officer has tendered his resignation from the services of the Company with effect from close of business hours on 3rd July, 2025 due to personal reasons."
Point of View
It is essential to report that UltraTech Cement has categorically denied any CCI investigation, emphasizing the importance of transparency in corporate governance. The legal landscape surrounding competition in the cement industry remains complex, with ongoing developments that warrant close attention.
NationPress
17/07/2025
Frequently Asked Questions
Is UltraTech Cement currently under investigation by the CCI?
No, UltraTech Cement has denied any investigation by the Competition Commission of India regarding alleged competition norm violations.
What case is India Cements Limited involved in?
India Cements Limited is a party to Case No. 35 of 2020 and is making appropriate disclosures regarding this matter.
Has any financial penalty been levied on India Cements Limited?
As of now, no financial penalties have been imposed on India Cements Limited by the CCI.
