UltraTech Refutes CCI Investigation Claims Amid ONGC Cartelization Allegations

UltraTech, part of the Aditya Birla Group and a leader in the cement business, has categorically denied any involvement in an investigation by the Competition Commission of India (CCI) concerning anti-competitive practices.

The company emphasized it has not received any CCI order nor has there been any request for its financial details related to the case. This statement comes in response to what UltraTech describes as 'false and misleading' reports detailed in recent media coverage about a probe linked to ONGC's complaint of cartelization.

While UltraTech Cement stands firm against the allegations, it clarified that its subsidiary, India Cements Limited, is indeed a party to Case No. 35 of 2020 and is making the necessary disclosures and considering legal options. UltraTech asserts its right to take legal action to safeguard its reputation. The CCI, established in 2003, aims to protect consumer interests and maintain healthy competition in the market, often dealing with cases of alleged unfair practices.

(With inputs from agencies.)