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News Topical, Digital Desk : UltraTech Cement Ltd has rejected media reports which said that the company is under investigation by the Competition Commission of India ( CCI) in the cement cartelization case . The company termed the reports including NDTV as false and misleading. The company said , “ It is clarified that the company is not under any kind of investigation by the Competition Commission of India ( CCI) in this matter (Case No. 35/2020) . Neither has the company received any order from CCI in this matter nor has any financial document of the company been sought. ”
UltraTech said , “ India Cements Limited ( ICEM), a subsidiary of the company, is a party to Case No. 35/2020 and is separately making necessary disclosures in this regard and is also examining legal options.”
The company is considering legal options
The company said in a filing on July 5 that it is considering legal options against this misleading reporting and reserves the right to take necessary action. This clarification comes after reports that CCI has directed Dalmia Bharat and Shree Digvijay Cements along with UltraTech to submit financial records .
It is worth noting that UltraTech Cement made India Cements Ltd its subsidiary by buying 32.72 percent stake in it in December 2024. Earlier , UltraTech already had 22.77 percent stake in it .
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