New Delhi, July 4 -- With its probe into a complaint by ONGC alleging cartelisation, finding evidence of Ultratech's subsidiary India Cements engaged in collusion with two other cement manufacturers in violation of the norms, the Competition Commission of India has given directions for submitting detailed financial and income tax records.

The competition watchdog probed a complaint by ONGC alleging cartelisation in its tenders. Its probe found evidence of Ultratech and its subsidiary engaging in anti-competitive collusion with two other cement manufacturers - Shree Digvijay Cement and Dalmia Cements, with a middleman allegedly facilitating coordination among the parties.

Senior executives of the company have been held accountable under ...