UltraTech notes that it is not under investigation before the Competition Commission of India (CCI) and has not received any order from the CCI in this case number 35 of 2020
Refuting the reports published in the public domain that claimed that UltraTech is under scanner in a cement cartelisation case, the flagship cement company of the Aditya Birla Group has labelled the claims as false and misleading.
In a regulatory filing, UltraTech noted that it is not under investigation before the Competition Commission of India (CCI) and has not received any order from the CCI in this case number 35 of 2020.
“It is clarified that the company is not under investigation in this case no. 35 of 2020 before the Competition Commission of India (CCI). The company has neither received any order from the CCI in this case nor have the company’s financials been sought by the CCI,” UltraTech emphasised.
The company highlighted its subsidiary, The India Cements or ICEM, is party to case number 35 of 2020 and is separately making appropriate disclosures in this regard, while exploring legal options. The company also highlighted its right to take necessary legal steps to maintain the reputation.
“UltraTech Cement reserves its rights to take necessary legal steps in light of these misleading reports to protect its reputation,” as per the official statement in the regulatory filing by the company.
