UltraTech Cement's Legal Chief Resigns Amid CCI Probe into Alleged Cartelisation
UltraTech Cement's Chief Legal Officer, Anoop Khatry, has resigned effective July 3, 2025. Simultaneously, the Competition Commission of India (CCI) has requested financial documents from the company as part of an investigation into alleged cartelisation in ONGC tenders. The probe implicates UltraTech Cement, its subsidiary India Cements, and other companies for potential violations of competition norms. This development raises questions about competitive practices in the cement industry, particularly in bidding for large-scale projects.

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UltraTech Cement , one of India's leading cement manufacturers, is facing significant changes in its leadership and regulatory scrutiny, according to recent developments.
Chief Legal Officer's Resignation
Anoop Khatry, the Chief Legal Officer of UltraTech Cement, has tendered his resignation. The company announced that Khatry's departure will be effective from July 3, 2025, marking the end of his tenure with the cement giant.
CCI Investigation and Document Request
In a separate but potentially related development, the Competition Commission of India (CCI) has directed UltraTech Cement to submit financial documents. This request comes as part of an ongoing investigation into alleged cartelisation in tenders issued by Oil and Natural Gas Corporation (ONGC).
Probe Findings and Implications
The CCI's probe has uncovered potential violations of competition norms. The investigation appears to implicate not only UltraTech Cement but also its subsidiary, India Cements, along with other companies in the sector. The exact nature and extent of these alleged violations remain undisclosed at this time.
Industry-wide Implications
This development raises questions about competitive practices within the cement industry, particularly in relation to bidding for large-scale projects. The CCI's focus on ONGC tenders suggests that the investigation may have broader implications for how cement companies engage in bidding processes for major infrastructure and energy projects.
The confluence of the high-level executive departure and the ongoing regulatory investigation presents a challenging scenario for UltraTech Cement. As the situation unfolds, stakeholders will be closely watching how the company navigates these legal and leadership challenges.
UltraTech Cement has not yet issued a public statement regarding the CCI's document request or the findings of the probe. The company's response to these developments, as well as its strategy for addressing the regulatory concerns, will be crucial in the coming months.
As this story develops, further updates are expected regarding the CCI investigation, its potential outcomes, and any additional changes in UltraTech Cement's leadership structure.
Historical Stock Returns for UltraTech Cement
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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-1.09% | +2.29% | +9.86% | +6.47% | +6.80% | +220.30% |