You are here: Home » Companies » News
Simple Energy to set up Rs 2,500-cr electric vehicle facility in Tamil Nadu
Twitter acquires Quill; experts says platform's DMs may get major overhaul
Business Standard

United Breweries challenges Rs 752 crore CCI penalty before NCLAT

Beer maker United Breweries Ltd (UBL) has approached the appellate tribunal NCLAT against Rs 751.8 crore penalty imposed on the company by the fair trade regulator CCI.

Topics
United Breweries | NCLAT | CCI

Press Trust of India  |  New Delhi 



United Breweries, beer
Representative Image

Beer maker Ltd (UBL) has approached the appellate tribunal against Rs 751.8 crore penalty imposed on the company by the fair trade regulator .

The Competition Commission of India on September 24, 2021, imposed a fine of Rs 751.8 crore for alleged cartelisation in the sale and supply of beer.

"The company has now filed an appeal before the National Company Law Appellate Tribunal (NCLAT) against the order dated September 24, 2021," said UBL in a regulatory update.

The is the appellate authority over the . It hears appeals against any direction issued or decision made or order passed by CCI.

Earlier in October, UBL, which is now controlled by Dutch-based multinational Heineken, had said it was in process of preparing the grounds of the appeal, which was expected to be filed within two months from the date of order.

On the basis of the legal advise "the company believes that it has a strong case on merits for successful appeal on this matter", UBL had said on October 27, in post earning statement for July-September quarter.

Earlier this year, Heineken had acquired additional ordinary shares in UBL on June 23 taking its shareholding in the company from 46.5 per cent to 61.5 per cent.

The CCI had imposed penalties totalling over Rs 873 crore on UBL, Carlsberg India, All India Brewers' Association (AIBA) and 11 individuals for cartelisation in the sale and supply of beer.

The final order was passed against Ltd (UBL), SABMiller India Ltd, now renamed as Anheuser Busch InBev India Ltd (AB InBev), and Carlsberg India Private Ltd (CIPL), among other entities.

In its 231-page order, which had come nearly four years after ordering a detailed probe, the CCI had also directed the companies, association and individuals to "cease and desist" from anti-competitive practices in the future.

The period of cartelisation was considered to be from 2009 to at least October 10, 2018, with Carlsberg India joining in from 2012 and AIBA serving as a platform for facilitating such cartelisation since 2013. All three beer were lesser penalty applicants before the regulator.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, December 09 2021. 02:02 IST

RECOMMENDED FOR YOU

.