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Key Points

UltraTech Cement has denied reports of a CCI investigation into alleged competition violations. The company clarified it has not received any orders or financial inquiries from the regulator. Meanwhile, its subsidiary India Cements is assessing legal options but has not faced penalties. UltraTech also announced the resignation of its Chief Legal Officer, Anoop Khatry, effective 2025.

Key Points: UltraTech Denies CCI Probe in Cement Cartelisation Case

  • UltraTech denies CCI probe in 2020 cartelisation case
  • India Cements confirms reviewing legal options
  • UltraTech CLO Anoop Khatry resigns citing personal reasons
  • No financial penalties imposed by CCI so far
2 min read

UltraTech denies reports of CCI probe in cement cartelisation case

UltraTech Cement refutes reports of CCI investigation into alleged competition violations while India Cements confirms legal assessment.

"The company has neither received any order from the CCI in this case nor have the company’s financials been sought by the CCI – UltraTech Cement"

Mumbai, July 5

UltraTech Cement Ltd. on Saturday denied being investigated by the antitrust regulator Competition Commission of India (CCI) for alleged contravention of competition norms.

In a stock exchange filing, the Aditya Birla Group company called such media reports "false and misleading" and clarified that it is not under investigation in a case from 2020.

"The company has neither received any order from the CCI in this case nor have the company’s financials been sought by the CCI," a stock exchange filing read.

“It is clarified that the Company is not under investigation in this Case No. 35 of 2020 before the Competition Commission of India,” according to the filing.

The filing further stated that the India Cements Limited, a subsidiary of the Company, “is party to Case No. 35 of 2020 and is separately making appropriate disclosures in this regard, while exploring legal options”.

In a separate exchange filing, India Cements Limited (ICEM) said it is yet to receive a full version of the CCI investigation report under the Competition Act, 2002.

“ICEM is yet to receive a full version of the investigation report of the Director General, under the Competition Act, 2002. ICEM is currently assessing its legal options. There is no finding by the CCI at this stage against ICEM and no financial penalty has been levied,” it said in the stock exchange filing.

Meanwhile, UltraTech Cement Limited has announced the resignation of its Chief Legal Officer, Anoop Khatry, effective from the close of business on July 3, 2025, due to personal reasons.

"We hereby inform you that Mr. Anoop Khatry, Chief Legal Officer has tendered his resignation from the services of the Company with effect from close of business hours on 3rd July, 2025 due to personal reasons," according to the company’s exchange filing.

- IANS

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Reader Comments

P
Priya S
As a shareholder, I'm concerned about these reports. Cement prices have been unusually high across India. Hope CCI investigates properly - consumers deserve fair pricing!
A
Aman W
Typical corporate response! Deny first, deal with consequences later. The construction sector is suffering due to inflated cement prices. CCI should take strict action if found guilty.
S
Sarah B
The resignation timing is suspicious. In western markets, such coincidences would trigger immediate investigations. Hope Indian regulators are equally vigilant.
K
Karthik V
Let's not jump to conclusions. UltraTech is one of India's most respected companies. If they say they're not under investigation, we should take their word unless proven otherwise.
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Nisha Z
This affects common people the most! Building a home has become so expensive. If companies are fixing prices, they should be fined heavily. Jai Hind 🇮🇳

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