Displaying items by tag: Builders Association of India

India: A court has ruled that the Builders Association of India (BAI) is an interested party, and thus able to complain to the Competition Commission of India (CCI), over alleged cement sector cartelisation leading to cement price rises. BusinessLine Online News has reported that the BAI believes high Southern Indian prices to be unaccountable except as an outcome of cartelisation.

The CCI launched its on-going cement cartel investigation in 2019.

India: The Builders Association of India (BAI) has called for the creation of a regulatory body to control the price of cement. Sachin Chandra, the president of BAI, called on the newly elected Indian government to set up the organisation, according to the Hindu newspaper. He alleged that the Monopolies and Restrictive Trade Practices (MRTP), the Competition Commission of India and the National Company Law Appellate Tribunal had ‘repeatedly’ found evidence of anti-competitive behaviour in the cement industry.

India: The Builders Association of India has urged that the state government of Tamil Nadu take measures to reduce the price of cement following a 37% rise in the cost of the commodity. Chairman S Ayyanathan said cement prices had witnessed ‘sharp’ increase in the last 10 days, despite the cost of raw materials, labour and transportation remaining static, according to the Hindu newspaper. He also cited falling demand for cement due to a slowdown in construction activity in the state.

India: The Supreme Court has agreed to examine a plea by cement producers about a charge of cartel-like behaviour made by real estate developers and upheld by the Competition Commission of India (CCI). However, the court has insisted that the payment schedule of the fine imposed will have to be upheld while the appeal proceeds, according to the Economic Times newspaper. The accused cement producers have been ordered to deposit 10% of the fine.

10 cement companies – including India Cements, Ramco Cements, Nuvoco Vistas Corporation, Ambuja Cement, ACC, Jaiprakash Associates, Century Textiles and Industries and UltraTech Cement – were accused by the Builders' Association of India and the CCI in 2010 of cartel-like behaviour. They were then fined US$905m or 0.5% of their net turnover. The producers first tried to appeal with the National Company Law Appellate Tribunal (NCLAT) but the tribunal dismissed their plea against the CCI finding in late July 2018.