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Appellate tribunal NCLAT on Tuesday set aside a Rs 301.6-crore penalty imposed on the Grasim Industries by CCI, directing the fair trade regulator to hear the Aditya Birla Group firm again over its alleged dominance in the viscose staple fibre (VSF) market. The tribunal observed that the CCI did not provide a chance to Grasim Industries to present their arguments, after it differed from the findings of DG, its probe Unit. The Competition Commission of India (CCI) had imposed a penalty on Grasim Industries in March 2020 for allegedly abusing its dominant position with respect to supply of VSF to spinners in India in which it has a dominant position. The order was challenged by Grasim before the NCLAT, which is also an appellate authority over CCI, which asked the regulator to hear afresh. A two-member National Company Law Appellate Tribunal (NCLAT) bench said the CCI itself has "differed from findings of the DG", its probe unit, regarding their directions for disclosure of ...
Asian Paints is reviewing the order passed by fair trade regulator CCI directing a probe against the country's leading paint maker for alleged abuse of its dominant position in the market and said it plans to take appropriate legal recourse. Asian Paints said it will cooperate with the Competition Commission of India (CCI) in the investigation over allegations of exclusionary practices. "The company is currently reviewing the order and will take appropriate legal recourse. The company remains committed to fully cooperating with the CCI during the course of the investigation," Asian Paint said in a late night regulatory filing on Thursday. Earlier this week, CCI ordered an investigation against Asian Paints for allegedly abusing its dominant position in the market for manufacturing and sales of decorative paint over the complaints filed by Aditya Birla group firm Grasim Industries. Grasim, a new entrant in the domestic paint industry with brand Birla Opus, had accused Asian Paints o