Question

The following is not true about the Cement Cartelization Case in India:

• A. The Competition Commission of India imposed a penalty of 0.5 times of the net profits of certain cement-producing companies for the year 2009-10 and 2010-2011
• B. Companies were engaging in unfair and not restrictive trade practices by controlling the price of cement by artificially curtailing their output capacity
• C. The market was oligopolistic in nature, with the possibility of collusion between companies
• D. None of the above

Answer 1

Answer: (B)

Companies were engaging in unfair and not restrictive trade practices by controlling the price of cement by artificially curtailing their output capacity

Answer 2

In the Cement Cartelization case, the Competition Commission of India found that cement companies were involved in anti-competitive practices, including price-fixing and curtailing production to inflate prices. This was deemed a violation of the Competition Act, and penalties were imposed. All the statements in the options are correct, so "None of the above" is the right answer.