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NewsGeneralNo role in cement cartel, allegations far from reality: JAL

No role in cement cartel, allegations far from reality: JAL
No role in cement cartel, allegations far from reality: JAL
 News added on 25-Jun-2012

Jaiprakash Associates , which has been indicted by competition watchdog CCI along with 10 other cement makers for forming price cartel, today said such allegations are far from reality, as market forces determine the price of the construction material.

"Competition Commission of India's order appears to be based more on technical points than on ground realities. In an industry where there is full-throttled competition, where the prices are determined by the market forces and consumption is driven by economy, alleging cartelisation is not justified," it said in a statement.

"In the market-driven scenario where there are nearly 45 cement companies and over 140 plants in the country, the allegation of cartelisation is far from reality," JAL added.

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