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NCLAT upheld a penalty of Rs. 6,300 crores - Judgement
In a huge development, the competition law team at Gaggar and Partners, led by Vaibhav Gaggar along with Neha Mishra and Adarsh Chamoli secured a landmark judgment, whereby the National Company Law Appellate Tribunal (NCLAT) upheld a penalty of Rs. 6,300 crores which was imposed by the Competition Commission of India against 10 cement companies for cartelization. This is the largest penalty ever imposed in the competition regime in India and one of the highest globally as well. The judgment has also helped settle a large number of contentious jurisprudential issues which would go a long way in bringing clarity within the competition law domain.
While Speaking to Taxscan, Mr. Vaibhav Gaggar, Managing Partner – Gaggar & Partners representing the CCI hailed the judgment and commented on a story focusing the landmark judgment upholding penalty of 6300 crores in the cement cartelization case.
NCLAT refuses to overturn 6,300 crore penalty imposed by CCI on cement cartel: Led by our Managing Partner – Mr. Vaibhav Gaggar and team of Neha Mishra and Adarsh Chamoli; the firm secures a landmark judgment while acting on behalf of CCI.