New Delhi: In a setback for UltraTech Cement, the Delhi High Court on Tuesday dismissed the cement manufacturer’s appeal challenging the Competition Commission of India’s (CCI) decision to allow the Builders Association of India (BAI) to join its investigation into alleged cartelisation and price manipulation by grey cement manufacturers.
A division bench comprising Chief Justice Devendra Kumar Upadhyaya and Justice Tejas Karia upheld the December 2023 order of a single judge, who had refused to interfere with the anti-trust body’s decision to make BAI a party to the proceedings.
“Plea herein is dismissed,” the bench remarked while pronouncing the order. The detailed written order was not available at the time of publication.
What happened earlier
In 2019, the CCI received several complaints alleging that grey cement manufacturers were acting together to manipulate prices and cartelize the market. One of the complaints was filed by BAI, an association representing over 20,000 builders and infrastructure developers that purchase cement.
The CCI subsequently started an investigation, which included searches at the premises of five , including UltraTech, in December 2020.
BAI later sought to participate in the proceedings, but the CCI rejected its first request in December 2021. BAI then approached the Delhi High Court, and after a favourable ruling, the CCI allowed BAI to present its views and made it a party to the proceedings on 5 July, 2023.
said BAI was a major consumer of cement and its participation could help it conduct a more meaningful investigation.
challenged the CCI’s decision before the high court, arguing that BAI should not have been made a party because it was only an informant.
The company also argued that the CCI could not reconsider BAI’s earlier-rejected request, raised concerns about BAI’s access to confidential business information, and said it was not given a proper opportunity to object before BAI was made a party.
The single judge rejected UltraTech’s arguments in December 2023.
The single bench held that BAI’s second application was a fresh request, filed after the court had allowed it to approach the CCI again. It also held that the CCI could allow an interested organisation to participate in an investigation concerning the market as a whole if its participation could help the regulator reach a better-informed decision.
On confidentiality, the court noted that BAI was allowed to access only non-confidential records, with safeguards to protect sensitive business information.
UltraTech subsequently approached the division bench, challenging the single-judge order. The division bench has now dismissed the appeal, leaving the CCI’s decision to allow BAI to participate in the proceedings intact.
UltraTech Cement’s shares were trading 0.80% lower at ₹11,086 on Tuesday, in a largely weak market.
UltraTech is India’s largest cement manufacturer, with its market share estimated at over 20%. Its domestic grey-cement capacity stood at 200.1 million tonnes per annum (MTPA) as of April 2026.
Queries emailed to UltraTech Cement, Builders Association of India and the CCI remained unanswered till press time.