UltraTech, India’s largest cement manufacturer, clarified on Saturday that it is not under investigation by the Competition Commission of India (CCI) over alleged anti-competitive practices in tenders floated by ONGC. In a BSE filing, the Aditya Birla Group company stated, “The Company is not under investigation in Case No. 35 of 2020 before the CCI and has neither received any order nor any request for its financials in this matter.”
The investigation instead involves UltraTech’s subsidiary, India Cements Ltd (ICEM), which is exploring legal remedies. India Cements, acquired by UltraTech in December 2024 through a 55% stake purchase from promoters and the open market, confirmed it is awaiting the full investigation report from the CCI’s Director General.
The CCI probe stems from a 2020 complaint by ONGC alleging cartelization in its tenders. The DG’s report, submitted in February 2025, named India Cements, Dalmia Bharat, Shree Digvijay Cement, and a middleman for collusion. While CCI has directed the parties to furnish financial records and responses, no penalty has been imposed yet.
UltraTech reiterated its commitment to regulatory compliance and clarified its operations remain unaffected by the ongoing investigation involving its subsidiary.
