UltraTech Cement’s Chief Legal Officer quits

Mumbai, July 4 (SocialNews.XYZ) Anoop Khatry, Chief Legal Officer of UltraTech Cement Limited, has resigned from his position citing personal reasons, the company informed in an exchange filing on Friday.

The same has been accepted with effect from the close of business on July 3, 2025, according to the company.

"We hereby inform you that Mr Anoop Khatry, Chief Legal Officer, has tendered his resignation from the services of the Company with effect from close of business hours on 3rd July, 2025 due to personal reasons," according to the company’s exchange filing.

Ultratech's legal operations and strategic initiatives may be impacted by this senior management change, which could also have an effect on stakeholder relations and market positioning.

Meanwhile, after the CCI Director General's investigations showed that the Aditya Birla Group company UltraTech, which owns India Cements, and two other cement manufacturing companies, along with their executives, had violated competition laws by conspiring in the tenders issued by public sector oil giant ONGC, the CCI ordered the companies to submit financial documents.

After receiving a complaint from the government-owned ONGC accusing the cement companies of cartelisation in the tenders it floated, the CCI ordered an investigation.

According to the investigation, Sunrise Enterprises' owner, Umakant Agarwal, was serving as a go-between for these cement companies, enabling collusion in ONGC-issued tenders.

It has instructed UltraTech to submit the financial statements of its subsidiaries, Dalmia Bharat Cements and Shree Digvijay Cements, for nine years, from FY11 to FY19, and India Cements, for five years, from FY15 to FY19.

—IANS

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Source: IANS