UltraTech Cement CEO Anoop Khatry Resigns
UltraTech Cement CEO Anoop Khatry Resigns
The senior management change could impact the legal operations and strategic initiatives of the company
UltraTech Cement Limited, a subsidiary of the Aditya Birla Group has stated that Anoop Khatry, the Chief Legal Officer of the company has quit, citing personal reasons. And his resignation has been accepted.
The company’s exchange filing read, "We hereby inform you that Anoop Khatry, Chief Legal Officer, has tendered his resignation from the services of the company with effect from close of business hours on 3 July 2025 due to personal reasons.”
It is said that Ultratech's legal operations and strategic initiatives may be impacted by this senior management change. It could also impact stakeholder relations and market positioning.
Recently, the Competition Commission of India (CCI) investigated UltraTech, which owns India Cements, and two other cement manufacturing companies, Dalmia Bharat Cements and Shree Digvijay Cements.
The Commission observed that the companies, along with their executives, violated competition laws by conspiring in the tenders issued by the public sector oil giant Oil and Natural Gas Corporation (ONGC). It directed the companies to submit their financial documents.
The probe was ordered after the government-owned ONGC accused the cement companies of cartelisation in the tenders it issued. The investigation revealed that Sunrise Enterprises' owner, Umakant Agarwal had served as a middleman for the cement companies, enabling collusion in the tenders.
The CCI has instructed UltraTech to submit the financial statements of Dalmia Bharat for nine years (FY 2011 to FY 2019), and India Cements for five years (FY 2015 to FY 2019).
