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Dalmia Cement's attempt to obtain stay in alleged cement cartel dismissed by Indian court

( October 20, 2023, 08:19 GMT | Official Statement) -- MLex Summary: Dalmia Cement's attempt to obtain a stay in the investigation of an alleged cement cartel was dismissed by an Indian state court on Oct. 20. Dalmia Cement argued before the division bench of the Gauhati High Court that parallel pricing was not sufficient grounds for the Competition Commission of India to refer the matter to the Director General for investigation. The competition watchdog launched an investigation into a suspected cement cartel after ONGC filed a complaint alleging Dalmia Cement, along with Shree Digvijay Cement and India Cements, coordinated their actions and submitted nearly identical bids in response to a tender for the purchase of Oil Well Cement....

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