HomeBusinessFair trade regulator CCI conducts searches at India Cements' Chennai office

Fair trade regulator CCI conducts searches at India Cements’ Chennai office

Published on

spot_img

[ad_1]

Fair trade regulator Competition Commission of India (CCI) has conducted a ‘search’ at India Cements Ltd (ICL) office in Chennai, the firm said on 22 December.

The ICL, though, claims it has not committed any breach of CCI regulations.

ALSO READ: JK Cement enters paint segment, acquires 60% stake in Acro Paints in 153-crore deal

Responding to a clarification sought by BSE over news reports of a raid by CCI at ICL, the company said in a filing: “Certain officials of CCI visited our office in Chennai at around 11:30 a.m. and are conducting ‘search’ to find out if any irregularities concerning ‘Competition Commission’ has occurred.”

The firm added that it has not committed any breach of CCI regulations. “”We do not apprehend any material impact on the Company,” ICL said.

ICL has a total capacity of 15.5 million tonnes per annum. Its revenue for the financial year that ended on March 31, 2022 was 4,713.11 crore.

India Cements operates eight integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh and Rajasthan and two grinding units, one each in Tamil Nadu and Maharashtra.

With PTI inputs.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

[ad_2]

Source link

Latest articles

Surf Break Raging Bull: A Thrilling Experience for Advanced Surfers

Learn to surf at Raging Bull, a difficult surf break that attracts experienced surfers...

Top 5 Sites MoviesMing – Download Bollywood, Hollywood, and South Indian Movies

MoviesMing is a popular website that offers free downloads of Bollywood, Hollywood, and South...

Arizona Diamondbacks 2023 Schedule

With the new season on the horizon, baseball fans across the country are gearing...

FUBAR (TV series) – Release Date, Cast, Trailer, And Other Information

Get ready for an action-packed ride with Netflix's upcoming spy-adventure series, 'FUBAR.' Created by...

More like this

Surf Break Raging Bull: A Thrilling Experience for Advanced Surfers

Learn to surf at Raging Bull, a difficult surf break that attracts experienced surfers...

Top 5 Sites MoviesMing – Download Bollywood, Hollywood, and South Indian Movies

MoviesMing is a popular website that offers free downloads of Bollywood, Hollywood, and South...

Arizona Diamondbacks 2023 Schedule

With the new season on the horizon, baseball fans across the country are gearing...