CCI slapped Rs 6,704 crore fine on cement companies: Sachin Pilot

NEW DELHI: The Competition Commission of India (CCI) has so far slapped fines of over Rs 6,704 crore on cement companies besides penalties worth more than Rs 55 lakh on various chemists and druggists associations, for unfair business practices.

The commission had probed two cases against cement manufacturing companies wherein in one case it had slapped a penalty of Rs 6,307.32 crore on 11 cement firms while it had imposed a penalty of Rs 397.51 crore on Shree Cement Ltd in the second matter, Corporate Affairs Minister Sachin Pilot said in a written reply to the Rajya Sabha.

Besides, the minister said CCI had slapped penalties on four chemist and druggist groupings in the country like the All India Organisation of Chemists and Druggists.

CCI had levied a penalty of Rs 47.41 lakh on All India Organisation of Chemists and Druggists.

Further, it had slapped a penalty of Rs 5.6 lakh on Assam Drug Dealers association, Rs 2 lakh on Chemist and Druggists, Association in Goa and Rs 53,537 on Chemist and Druggist Association in Baroda.

Replying to whether CCI had looked into cartelisation in the telecom sector, Pilot said that while CCI has probed the cement and pharmaceutical sector "no such investigation has so far been ordered in the telecom sector".

Last week, the Commission had imposed a fine of Rs 55.43 lakh on Chemists & Druggists Association, Ferozepur (in Punjab) and its office bearers for unfair trade practices.