The Competition Appellate Tribunal (Compat) has set aside a 2013 order of Competition Commission of India (CCI) imposing a penalty of rs 1,773-crore on Coal India for unfair business ways. It also remitted the cases back to the CCI, which will hear them afresh and pass a judgment within two months.
The CCI had found Coal India and its three units—Mahanadi Coalfields, Western Coalfields and South Eastern Coalfields—abusing their dominant position in market. The company was found supplying low-quality coal at high prices while retaining the right to unilaterally terminate contracts with buyers. The CCI had imposed the penalty on the company in December 2013.
In the meantime, Coal India and its subsidiaries have not been allowed to withdraw the modifications. It had to make in fuel supply agreements (FSA) after CCI’s orders. The tribunal quashed the Commission’s orders after observing that many of its members were party to the orders despite not being present during hearings. This order came on the complaints filed by Maharashtra State Power Generation Company and Gujarat State Electricity Corporation Limited (GSECL).
So let’s discuss some questions related to this post :
1. Name the company on which the Competition Appellate Tribunal has set aside the rs. 1,773 crore penalty for unfair business ways by CCI ?
2. Expand the term Compat, CCI and FSA ?
Courtesy : Economic Times