UltraTech Clears The Air
UltraTech Cement has clarified it is not under investigation by the CCI, though its subsidiary India Cements is part of an ongoing ONGC case.
Case Details
- The case involves alleged cartelisation in cement pricing.
- UltraTech says it has not received any notice or request for information from regulators.
- India Cements, a separate entity, is engaged in defending itself in the case.
Company Stand
- UltraTech calls reports linking it to the probe misleading.
- It’s considering legal remedies to defend its image.
The case’s outcome may influence market dynamics in India’s cement industry.