Honest exchange regulator CCI has directed Aditya Birla company ultratech, which now owns south-based cement firm india Cements, along side other makers, and their executives to submit monetary documents, after its director wellknown in its investigations located contravention of competition norms.
The competition fee of india (CCI) has also directed Dalmia Bharat Cements and Shree Digvijay Cements to put up their audited financial announcement, including balance sheet and earnings and loss account, within eight weeks of the order. It has directed ultratech to post the monetary statements of its subsidiary india Cements for five years from FY15 to FY19, at the same time as Dalmia Bharat Cements and Shree Digvijay Cements for nine years, from FY11 to FY19.
Besides, CCI has additionally directed their executives to post special financials and income tax statistics for 5 years, at the side of formal responses to the investigation file.
An electronic mail sent to ultratech Cements and Dalmia Cement Bharat remained unanswered till the time of filing the story.
The CCI route got here over a complaint filed by ONGC alleging cartelisation in its tenders. Following this, the honest change regulator had on november 18, 2020, directed its probe unit director standard to check out the difficulty.
The DG had submitted its investigations report on february 18, 2025, in which located contraventions of the competition rules.
It had determined that Ultratech's subsidiary india Cements, along with Shree Digvijay Cement and Dalmia Cement, with a middleman named Umakant Agarwal, engaged in anti-competitive collusion.
Later, CCI on might also 26, 2025, taken into consideration the research document and in a 4-web page order additionally directed the cement manufacturer to post profits derived from sales to alleged contraventions via the PSU.
The CCI notice additionally cited if there is non-furnishing of the economic info or incomplete/false facts, within the time frame through the organizations, then they would be liable below segment forty five of the Act.
In advance, in december 2024, ultratech Cements had acquired 32.seventy two consistent with cent stake from promoters and promoter group entities of india Cements Ltd. The Aditya Birla organization company, which already had obtained a 22.77 in step with cent stake from the market, have become the promoter of the tamil Nadu-based totally company.
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