 "Supreme Court")
The Supreme Court has upheld an order by the Competition Appellate Tribunal (Compat) that penalties imposed by the Competition Commission of India (CCI) on companies should be only on the turnover relevant to a case in dispute, not their overall turnover.
The apex court's decision came on Monday on an appeal by CCI against Compat reducing the penalty it had imposed on Excel Crop, United Phosphorus and Sandhya Organic Chemicals, for an anti-competitive agreement between them that raised the cost of procurement of Aluminium Phosphide tablets by Food Corporation of India.
CCI had imposed a penalty of nine per cent of the average three-years' turnover of each of these companies. This amounted to Rs 63.9 crore on Excel, Rs 252.44 crore on
