The Competition Appellate Tribunal (COMPAT) will hear tomorrow a batch of petitions filed by cement firms seeking stay on Rs 6,307 crore penalty imposed by fair trade regulator CCI on the grounds of cartelisation.
A COMPAT bench headed by it Chairman, Justice V S Sirpurkar, adjourned the DLF's plea to March 20, which was scheduled to be heard tomorrow.
A three member COMPAT bench is hearing the arguments from the cement companies for the last two days.
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During the proceedings today, ACC Cement put submissions against the penalty imposed by the Competition Commission of India (CCI) questioning the rational.
Yesterday, Ambuja Cement had argued its matter.
On June 21, CCI had slapped Rs 6,307 crore penalty on 11 cement makers. The industry body CMA was also fined Rs 73 lakh.
The cement companies charged with cartelisation include Lafarge India, India Cement, JP Associates, Binani Cement, Ambuja Cement, Madras Cement and J K Cement.
"The act and conduct of the cement companies establish that they are a cartel. The Commission holds that the cement companies acting together have limited, controlled and also attempted to control the production and price in the market in India," CCI had said in its 258-page order.
CCI had found "cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anti-competitive agreements including cartels".
The order was passed following probe by its Director General (Investigation) on a complaint filed by Builders Association.
