Indo National has an update on a Suo Moto case relating to Cartelisation of Zinc carbon dry cell batteries. The CCI had imposed a penalty of Rs. 42.26 crore against company and the Company made an appeal and stay application before the Hon. National Company Law Appellate Tribunal, New Delhi, (NCLAT) against the CCI's Order dated 19 April 2018.
The Hon. NCLAT passed an order to stay the penalty with the direction of depositing 10% of the penalty amounts to Rs.4.22 crore within 15 days with the Registry of the NCLAT.
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