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Oct 30, 2018

Appellate Tribunal Sets Aside the Penalty Levied by CCI Against AKMN Cylinder

NCLAT on August 20, 2018 set aside a penalty of INR 1 million levied on AKMN Cylinder (P.) Ltd. (‘AKMN’) by CCI for failing to comply with the Office of Director General’s directions. On January 02, 2014, CCI directed the Office of Director General (‘DG’) to carry out a detailed investigation in respect of the allegations against AKMN in accordance with its order issued under the Section 26(1) of the Act. During the course of investigation issued by the DG, AKMN consistently failed to appear despite repeated notices. As a result, CCI initiated suo moto proceedings against AKMN and imposed a penalty of INR 10 lakhs.Taking cognizance of the Appellant’s age and the fact that AKMN’s representative had (i) duly furnished the information requested by the DG on affidavit and no further information was required to be provided; and (ii) tendered an apology to the DG for failing to appear on an earlier occasion, the NCLAT set aside the penalty. 

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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