ACC and Ambuja Cements announced that fair trade regulator Competition Commission of India (CCI) has initiated an investigation against them and other cement companies in the country regarding alleged anti-competitive behavior.
“The Competition Commission of India (CCI) has initiated an investigation against cement companies in India including ACC regarding alleged anti-competitive behavior,” ACC stated in a regulatory filing.
ACC stated it is of the firm view that it has acted and continues to act in compliance with competition laws and we are fully cooperating with the investigation and providing all necessary information to the authorities.
“ACC has a long-standing commitment to fair competition as reflected in its Code of Business Conduct,” the company added.
In a separate filing, Ambuja Cements in a similar worded statement, also announced that the CCI has initiated an investigation against cement companies in India including Ambuja Cements regarding alleged anti-competitive behavior.
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