UltraTech Cement denies CCI Probe, calls media reports “false and misleading”
“The company is not under investigation in this matter,” UltraTech stated, calling the media reports including one by NDTV — “false and misleading.” It added that it is exploring legal options and reserves the right to act against the reportage.
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UltraTech Cement Ltd has issued a firm denial of reports claiming the company is under investigation by the Competition Commission of India (CCI) in an ongoing cement cartelisation case, as per reports.
In a regulatory filing dated July 5, the company said it has not received any order from the CCI in Case No. 35 of 2020, nor has it been asked to submit its financial records. “The company is not under investigation in this matter,” UltraTech stated, calling the media reports including one by NDTV — “false and misleading.” It added that it is exploring legal options and reserves the right to act against the reportage.
The clarification comes after reports suggested that the CCI had directed UltraTech, Dalmia Bharat, and Shree Digvijay Cements to submit financial data in connection with a probe into alleged cartelisation following a complaint filed by ONGC.
According to a CCI order dated May 26, 2025, India Cements Ltd — a subsidiary of UltraTech — has been asked to furnish financial statements for FY2015 to FY2019. Dalmia Bharat and Shree Digvijay Cements have been directed to submit financial and tax records dating back to FY2011, along with data on sales related to PSU tenders. The watchdog has warned of action under Section 45 of the Competition Act for non-compliance or submission of false information.
UltraTech became the promoter of India Cements in December 2024 after acquiring a 32.72% stake from the company’s former promoters. It already held a 22.77% stake prior to the acquisition.
