
Displaying items by tag: Legal
Former vice president of Cemex Colombia facing legal action in US
22 November 2018Colombia/US: Edgar Ramírez, the former vice president of planning for Cemex in Colombia, has been summoned by the US judiciary in relation to the Maceo cement plant corruption case. Ramírez reportedly fled to the US following calls for his arrest in Colombia earlier in 2018, according to W Radio. Another suspect in the case - Eugenio Correa Díaz, the former representative of CI Calizas y Minerales, which sold the property to the cement producer, is also being questioned by the US authorities. Ramírez and accomplices allegedly paid over US$13m to Correa, despite being aware of the fact that the property was in the process of being expropriated over unpaid taxes.
UltraTech Cement declares Binani Cement is its subsidiary
22 November 2018India: UltraTech Cement says that Binani Cement has become a wholly-owned subsidiary. The announcement to its shareholders follows a protracted legal battle with Dalmia Bharat group over the outcome of an auction for the insolvent producer. The acquisition includes production capacity in Rajasthan as well as subsidiaries in China and the UAE.
Supreme Court orders DG Khan Cement to pay US$0.6m into dam fund
21 November 2018Pakistan: The Supreme Court has ordered DG Khan Cement to pay nearly US$0.6m into a dam fund in relation to falling water levels at the Katas Raj Temples in Chakwal, Punjab. The cement producer must make a deposit of US$0.5m as payment for water it used and US$0.1m as a penalty for ‘misleading’ the court, according to the Nation newspaper. The court has accused the company of pumping water from boreholes leading to water loss at a pond at the temples.
Supreme Court backs National Company Law Appellate Tribunal on UltraTech’s bid for Binani Cement
20 November 2018India: The Supreme Court has upheld a decision by the National Company Law Appellate Tribunal (NCLAT) to approve a revised US$1.11bn bid for Binani Cement. The court rejected a challenge by Rajputana Properties, a subsidiary of rival bidder Dalmia Bharat group, according to the Hindu newspaper. UltraTech Cement made a direct bid for the bankrupt Binani Cement following an auction in March 2018 that was originally won by Dalmia Bharat. Dalmia Bharat disputed UltraTech Cement’s offer and the two companies have conducted legal campaigns to reinforce their respective claims.
Cemex Philippines facing legal action over landslides in Naga
20 November 2018Philippines: Cemex Philippines is facing legal action in relation to the quarry operations of its subsidiary in Naga following a landslide that killed nearly 80 people in September 2018. It said that it had received a summons order for the class suit along with its subsidiary APO Cement, according to the BusinessWorld newspaper. The defendants also include APO Land & Quarry, the Mines and Geosciences Bureau Regional Office VII, the City Government of Naga and the Province of Cebu. The lawsuit is attempting to seek damages of up to US$80m on environmental grounds on relation to the quarry.
Gas supplier ordered not to raise price for Lucky Cement
19 November 2018Pakistan: The Peshawar High Court has temporarily ordered Sui Northern Gas Pipelines (SNGP) not to charge Lucky Cement a higher price for gas. The cement producer took legal action against the supplier, the Oil and Gas Regulatory Authority (OGRA) and the Ministry of Energy following a price increase of 142% in October 2018, according to the Dawn newspaper. The court has asked OGRA to respond to questions about the price rise. Lawyers on behalf of the Lucky Cement argue that the increase in the cost of gas was taken without following the normal legal requirements.
Pakistan: The Supreme Court has appointed a special committee to visit the DG Khan’s cement plant in Chakwal to investigate how it stores water. The committee will report back to the court about the capacity of the reservoirs built by the plant as well as whether they were filled by extracting water from the aquifer or from rainwater, according to the Dawn newspaper. The committee will also take samples of water from the reservoirs.
The court has been looking into how DG Khan and Bestway Cement set up cement plants in the Potohar region related to water issues at the nearby Katas Raj Temples. Previously, the court was told that the DG Khan Cement was only operating tube-wells for domestic use by its workers but a witness alleged that the plants were extracting water for industrial use from the water table.
National Company Law Appellate Tribunal approves UltraTech Cement’s bid for Binani Cement
14 November 2018India: The National Company Law Appellate Tribunal (NCLAT) has approved a revised bid by UltraTech Cement for Binani Cement. The tribunal approved UltraTech’s resolution plan and said that the plan submitted by Rajputana Properties, a subsidiary of rival bidder Dalmia Bharat group, was ‘discriminatory’ against some financial creditors, according to the Press Trust of India. In July 2018 the Supreme Court transferred all matters related to corporate insolvency resolution process of Binani Cement to the NCLAT Kolkata.
Anti-corruption investigation restrained from taking criminal action against heads of DG Khan and Bestway Cement
13 November 2018Pakistan: The Supreme Court has restrained the Punjab Anti-Corruption Department from launching criminal proceedings against the heads of DG Khan and Bestway Cement. The decision was made following a review petition filed by DG Khan Cement, according to the Statesman newspaper. It follows an investigation initiated by the Supreme Court to look into the setting up of cement plants in the Potohar region. The probe alleges government and corporate corruption.
Jordan Cement Company in legal dispute over land
05 November 2018Jordan: Jordan Cement Company is in a legal dispute with local landowners over land ‘illegally’ acquired near its Fuheis plant. The plaintiffs argue that forgery was used by the company in acquiring land, according to Roya TV. The subsidiary of Switzerland’s LafargeHolcim operates two integrated plants, at Fuheis and Rashadiyah.