Orchardists say the move will ruin apple economy Residents, mainly apple and vegetable growers in the Chopal-Nerwa-Tharoach apple belt, are against the proposed move to set up a 1-million tonne capacity cement plant near Nerwa here. They plead that the plant will ruin the apple and vegetable economy and spell doom for dense deodar jungle and Churdhar wildlife sanctuary in the scenic Chopal valley.
Shimla, February 19: The government today cancelled the licence issued to JP Cements for a cement plant in Chamba district for failing to show satisfactory progress. The decision was taken by the Cabinet,
With rupee depreciating, companies feel they can compete with local companies abroad. At a time when the market in the South has slowed down, resulting in poor offtake of cement, rupee depreciation has
The Supreme Court today directed 10 cement manufacturing companies to pay Rs 630 crore by June 24 as a pre-condition for hearing their appeals against a penalty of Rs 6,300 crore imposed on them for artificially
The Competition Appellate Tribunal (Compat) has directed cement companies to pay 10 per cent of the penalty of Rs 6,307 crore imposed on them by the Competition Commission of India (CCI) for cartelisation.
The Virbhadra Singh-led Congress government, in a late evening cabinet decision on Wednesday, decided to grant licence to Reliance Industries for setting up a cement plant in the Chopal tehsil of apple-producing
India Cements is looking at expanding its capacity in Rajasthan with an investment of Rs 650-700 crore. The plan comes in view of the growing demand in Gujarat and Madhya Pradesh. N Srinivasan, vice chairman and managing director, India Cements, said, “We are examining whether we can expand the capacity at the Rajasthan plant.” The present capacity of the plant is 1.3 million tonnes, and the company is planning to add one more line with similar capacity.
New Delhi Competition Appellate Tribunal today served notices to the Competition Commission and the Builders Association of India, on whose complaint the fair trade regulator had imposed a penalty of Rs 6,307 crore on 11 cement firms on charges of cartelisation. Hearing an appeal by cement companies, including UltraTech and ACC, the tribunal also asked the CCI not to take any coercive action in the matter till October 11, when the COMPAT would next hear the case.
The commission in its Q1 on June 20 had imposed a penalty of Rs 6,307.32 crore on 11 cement companies Cement manufactures, which have been slapped a penalty of over Rs 6,700 crore for price cartelisation, will have to comply with the order of the Competition Commission of India (CCI) within 90 days from the issue of the same, Parliament was informed today. The CCI in two cases has found 11 cement manufacturers... "in contravention of Section 3(3) (a) and 3 (3) (b) read with section 3 (1) of the Competition Act. The loss to consumers due to such violations has not been quantified," Minister of State for Corporate Affairs R P N Singh said in a written reply to the Rajya Sabha.
New Delhi After penalising 11 cement companies last month for violating the provisions of the Competition Act, 2002, the Competition Commission of India (CCI) on Monday found Shree Cement also guilty of cartelisation. As a result, CCI has imposed a penalty of R397.51 crore penalty on Shree Cements, fixed at 0.5 times of the company's net profit for the year 2009-10 and 2010-11. CCI had not found Shree Cement guilty in its June 21 order in which it had imposed a financial penalty of about R6,200 crore on 11 cement companies and their trade association — Cement Manufacturers Association (CMA).
