Tribunal Stays Fair Trade Regulator Order on Adani Gas Penalty
New Delhi: The Competition Appellate Tribunal (Compat) has stayed a Rs 25 crore penalty and modification of the gas sale contract order by Competition Commission of India (CCI) against Adani Gas Ltd.
Adani Gas is the city gas distribution arm of Ahmedabad-based Adani Group.
"No coercive steps shall be taken for recovery of penalty till further orders. There shall also be a stay on the direction of CCI on the modification of the agreement," a two-bench Compat order said.
The next hearing of the case is scheduled on September 10.
In July, the fair trade watchdog had slapped a fine of Rs 25.67 crore on Adani Gas for violating competition norms by abusing its dominant market position.
Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group.
The commission's ruling had come on a case related to supply and distribution of natural gas by Adani Gas Ltd in Faridabad.
Apart from directing Adani Gas to cease and desist from unfair practices, CCI had asked the company to modify the gas sales agreements (GSAs).
The regulator had also found that Adani Gas to be in "dominant position in the relevant market of supply and distribution of natural gas to industrial consumers in the district Faridabad, Haryana".
CCI had held that Adani Gas violated competition norms by imposing "unfair conditions upon the buyers under Gas GSA".
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