Cement manufacturer Jaiprakash Associates has denied that it was involved in price-fixing, after the Competition Commission of India (CCI) ruled that the company and 10 others had formed a cartel. Jaiprakash maintains that its cement was priced competitively, according to "market forces and consumption." The CCI, Jaiprakash says, based their decision on "technical points." The company also pointed out that the cement industry is made up of many players, and that Jaiprakash actually encouraged competition during the period investigated by the CCI.
Full content: Economic Times
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