Advertisement
Tribunal stays CCI order on Adani Gas penalty
The Competition Appellate Tribunal has stayed Competition Commission of India's (CCI) Rs 25 crore penalty and modification of the gas sale contract order against Adani Gas Ltd, the city gas distribution arm of Ahmedabad-based Adani Group.
)
New Delhi: The Competition Appellate Tribunal has stayed Competition Commission of India's (CCI) Rs 25 crore penalty and modification of the gas sale contract order against Adani Gas Ltd, the city gas distribution arm of Ahmedabad-based Adani Group.
"No coercive steps shall be taken for recovery of penalty till further orders. There shall also be a stay on the direction of CCI on the modification of the agreement," said a two-bench COMPAT order.
The next hearing of the case is scheduled on September 10.
In July, the Fair trade watchdog had slapped a fine of Rs 25.67 crore on Adani Gas for violating competition norms by abusing its dominant market position.
Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group.
The Commission's ruling had come on a case related to supply and distribution of natural gas by Adani Gas Ltd in Faridabad.
Apart from directing Adani Gas to cease and desist from unfair practices, the CCI had asked the company to modify the Gas Sales Agreements (GSAs).
The Commission had also found that Adani Gas to be in "dominant position in the relevant market of supply and distribution of natural gas to industrial consumers in the district Faridabad, Haryana".
The watchdog had held that Adani Gas violated competition norms by imposing "unfair conditions upon the buyers under Gas GSA".
"No coercive steps shall be taken for recovery of penalty till further orders. There shall also be a stay on the direction of CCI on the modification of the agreement," said a two-bench COMPAT order.
The next hearing of the case is scheduled on September 10.
In July, the Fair trade watchdog had slapped a fine of Rs 25.67 crore on Adani Gas for violating competition norms by abusing its dominant market position.
Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group.
The Commission's ruling had come on a case related to supply and distribution of natural gas by Adani Gas Ltd in Faridabad.
Apart from directing Adani Gas to cease and desist from unfair practices, the CCI had asked the company to modify the Gas Sales Agreements (GSAs).
The Commission had also found that Adani Gas to be in "dominant position in the relevant market of supply and distribution of natural gas to industrial consumers in the district Faridabad, Haryana".
The watchdog had held that Adani Gas violated competition norms by imposing "unfair conditions upon the buyers under Gas GSA".
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.
