Dalmia Bharat addresses CCI proceedings over oil well tenders

Dalmia Bharat Limited (DCBL) has responded to a news item concerning CCI proceedings related to oil and natural gas tenders from 2013, 2015, 2017, and 2018. The proceedings pertain to the procurement of oil well cement, in relation to which CCI in the year 2020 had directed the Office of the Director General (DG) to conduct an enquiry and submit a report. DCBL has received the investigation report submitted by the DG to the CCI and has been granted a period of eight weeks to review the DG's report and furnish its response along with relevant information. The company stated that the CCI has not yet issued any formal order and that any reports suggesting a penalty are factually incorrect. DCBL affirms its commitment to regulatory compliance and cooperation with authorities.