Gujarat Alkalies & Chemicals imposed with penalty of Rs 1.88 crore

By Competition Commission of India

Gujarat Alkalies & Chemicals announced that the Competition Commission of India (CCI) by its order dated 05 October 2017 has imposed penalties on four companies including the Company for contravention of the provisions of the Competition Act, 2002.

The Order is an outcome of the case filed by Delhi Jal Board inter-alia against the Company under the Competition Act, 2002. The CCI has imposed a penalty of Rs.1.88 crore on GACL, which is 6% of the average annual relevant turnover of GACL for 3 FY-2012-13,2013-14 and 2014-15.

Since, the maximum financial implication in this matter would be Rs.1.88 crore, considering the turnover and profitability of the Company, there would not be any material impact.

Powered by Capital Market - Live News