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UltraTech Denies CCI Probe In Alleged Cement Cartelisation

  • UltraTech Cement denies being investigated by the CCI for alleged contravention of competition norms, calling media reports 'false and misleading'.
  • The company clarified it is not under investigation in a case from 2020 and has not received any order from the CCI.
  • UltraTech Cement reserves its rights to take legal steps to protect its reputation, while its south-based arm India Cements is separately disclosing information on the case.
  • CCI's investigation report found contraventions by India Cements, Shree Digvijay Cement, and Dalmia Cement in cartelisation, directing submission of income details and warning of liability under the Act.

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