Swiss cement major Holcim's India units - Ambuja Cements and ACC - are cooperating closely with the Competition Commission of India (CCI) on the cement cartelisation probe, a Holcim official said.
The official refused to comment further as the matter is still ongoing. The official was responding to an email query from Business Standard on the CCI probe and its impact on the sale of Holcim's India-based cement companies.
The Holcim official did not comment on the sale of its India units, calling them "market rumours".
On December 10, 2020, the CCI initiated a fresh probe against Indian cement companies and raided several cement producers. On the same day, Ambuja Cements and ACC, in a regulatory filing, said the CCI initiated an investigation against cement firms in India, including Ambuja Cements and ACC, regarding alleged anticompetitive behaviour.
This story is from the May 06, 2022 edition of Business Standard.
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This story is from the May 06, 2022 edition of Business Standard.
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