CCI team raids ACC, Ambuja Cement offices
Fair trade regulator Competition Commission of India (CCI) on Wednesday conducted raids at the offices of some cement companies, including LafargeHolcim.
New Delhi: Fair trade regulator Competition Commission of India (CCI) on Wednesday conducted raids at the offices of some cement companies, including LafargeHolcim. LafargeHolcim, which is the parent firm of two leading cement manufacturers ACC and Ambuja Cements, has confirmed the development.
"LafargeHolcim confirms that ACC's and Ambuja Cement's offices in Mumbai were visited by the officials from the Indian Competition Authority yesterday i.e. 9th December," said a LafargeHolcim spokesperson. "LafargeHolcim/ACC and Ambuja Cement are fully cooperating with the authorities, but cannot comment further as the matter is ongoing," he added.
According to the media reports, the fair trade regulator has also searched the offices of the leading cement maker and Aditya Birla group firm UltraTech Cement and Shree Cement. Comments from the Aditya Birla group and Shree Cement could not be ascertained by the time of filing story as the email send remained unanswered. Earlier in the day, ACC and Ambuja Cements in a regulatory filing said "the CCI has initiated an investigation against cement companies in India including them for alleged anti-competitive behaviour".