CCI Investigation - Business Outrank

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.

What's Hot

TVS Industrial & Logistics Parks Lists ₹1,300 Cr InvIT on NSE, Unlocks Infrastructure Growth

Factors to Consider Before Buying Term Insurance

Public Sector Banks to Hire 50,000 Employees in FY26 Amid Expansion Plans

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: CCI Investigation

UltraTech Clarifies It Is Not Under CCI Investigation, Matter Pertains to India Cements

TVS Industrial & Logistics Parks Lists ₹1,300 Cr InvIT on NSE, Unlocks Infrastructure Growth

Factors to Consider Before Buying Term Insurance

Public Sector Banks to Hire 50,000 Employees in FY26 Amid Expansion Plans

ITR Verification Simplified: Seven Easy Ways to Complete Your Return in 2025

Our Picks

TVS Industrial & Logistics Parks Lists ₹1,300 Cr InvIT on NSE, Unlocks Infrastructure Growth

Factors to Consider Before Buying Term Insurance

Public Sector Banks to Hire 50,000 Employees in FY26 Amid Expansion Plans

Most Popular

TVS Industrial & Logistics Parks Lists ₹1,300 Cr InvIT on NSE, Unlocks Infrastructure Growth

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: CCI Investigation