UltraTech Cement, India Cements Deny CCI Action On Competition Probe

UltraTech Cement Ltd. on Saturday dismissed media reports that claimed the Competition Commission of India had directed it, its subsidiary India Cements Ltd., and key executives to submit financial documents after alleged breaches of competition rules. The company said it had not received any such order or request from the regulator and termed the news report "false and misleading."

India Cements also clarified that it has not yet received the full investigation report and that no findings or penalties have been issued against it so far. Both companies said they are evaluating legal options to protect their reputations.