Compat to hear Coal India appeal on April 16
The Competition Appellate Tribunal (Compat) today adjourned the hearing on the petition filed by Coal India challenging Rs 1,773 crore penalty slapped by CCI to April 16.
Meanwhile, both the sides -- the fair trade regulator Competition Commission of India and the state-run Coal India -- will complete the process of filing their replies and rejoinder over the petition.
The tribunal has also asked the regulator not to take any coercive steps against Coal India in the meantime.
CCI had imposed Rs 1,773 crore fine on Coal India, the first major penalty by the regulator on a state-owned entity, for allegedly abusing its dominant position in fuel supplies.
The quantum of penalty -- Rs 1,773.05 crore -- is equal to three per cent of the PSU's average turnover for the last three years.
In its order on December 9 last year, the CCI had said that Coal India is operating independently of market forces and enjoys an undisputed dominance in the country over production and supply of non-coking coal.
According to the fair trade watchdog, Coal India abused its dominance and did not try to evolve/draft/finalise terms and conditions of FSAs (Fuel Supply Agreements) through a bilateral process with procurers.
Subsequently, Coal India had approached Compat which hears and disposes appeals against any direction issued or order passed by the regulator.
In its last hearing, Compat had said that they will issue notice to CCI on its order on Coal India.
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