NCLAT stays CCI order imposing ₹873 crore penalty on UBL, other beer makers
The Hindu
The National Company Law Appellate Tribunal (NCLAT) has imposed a stay on the orders passed by the fair trade regulator CCI slapping penalties on several beer makers, including United Breweries Ltd th
The National Company Law Appellate Tribunal (NCLAT) has imposed a stay on the orders passed by the fair trade regulator CCI slapping penalties on several beer makers, including United Breweries Ltd that faces a fine of ₹751.8 crore.
Passing an interim order, a two-member NCLAT bench has directed parties, including United Breweries Ltd, to deposit 10 per cent of the penalty amount by way of ‘Fixed Deposit Receipt’ within three weeks.
The Competition Commission of India (CCI) on September 24, 2021, imposed penalties totalling over Rs 873 crore on UBL, Carlsberg India, All India Brewers' Association (AIBA) and 11 individuals for cartelisation in the sale and supply of beer.