Latest News | CCI Conducts Searches at India Cements' Chennai Office

New Delhi, Dec 22 (PTI) India Cements Ltd (ICL) on Thursday said fair trade regulator CCI has conducted a "search" at its office in Chennai.

The Chennai-based company added that it has not committed any breach of CCI regulations.

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In response to a clarification sought by BSE over news reports of a raid by CCI at ICL, the company said in a filing: "Certain officials of CCI visited our office in Chennai at around 11:30 a.m. and are conducting 'search' to find out if any irregularities concerning 'Competition Commission' has occurred."

However, it added that as it has not committed any breach of CCI regulations, "We do not apprehend any material impact on the Company."

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ICL has a total capacity of 15.5 million tonnes per annum. Its revenue for the financial year that ended on March 31, 2022 was Rs 4,713.11 crore.

India Cements operates eight integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh and Rajasthan and two grinding units, one each in Tamil Nadu and Maharashtra.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)