Not under investigation by CCI, India Cements party to case: UltraTech on probe over ONGC complaint

Mumbai (Maharashtra), July 5 (Memorial): Aditya Birla Group’s flagship cement company Ultratech said that India was not under the investigation in relation to competitive anti -competitive anti -practices before the competition commission, and that the company has not received any orders from the CCI, or that the company has not been searched by the competition monitoring.

In a stock file, Ultratech is called “false and misleading” reports published in the public open field regarding the CCI investigation of CCI investigation.

Ultra Tech, “the company’s Indian Competition Commission (” CCI “) in this case was not under investigation in this case was clarified. The company did not receive any orders from CCI in this case, nor the company’s financially sought by the CCI.” He said.

India Cements Limited (“Icem”), a subsidiary of the company, said that he was a party to the 35th case of 2020 and that he made appropriate explanations on this issue while investigating the legal options.

“Ultratech Cement reserves the right to take the necessary legal steps in the light of these misleading reports to protect its reputation.” He said.

CCI investigated the complaint by Ongc for cartelization.

CCI works to protect consumer interests and to promote innovation and productivity between businesses.

The objectives of the Competition Act is tried to be realized through the Indian Competition Commission established by the Central Government in 2003. The Commission consists of at least two people, not less than the six members to be appointed by the central government.

It is the duty of the commission to eliminate the practices that have a negative impact on competition, to encourage and maintain competition, to protect the interests of consumers and to ensure freedom of trade in Indian markets.

The Commission should also give an idea about competition issues related to a reference taken from a legal authority established within the scope of any law and assume competition advocacy, to create public awareness and provide training on competition issues. (MOMENT)