India Cement Ltd has received the Competition Appellate Tribunal’s stay in the appeal against an order of the Competition Commission of India that had imposed a penalty of Rs 187.48 crore on it for cartelisation.
India Cements Ltd has said in a BSE notification that “The Competition Appellate Tribunal, vide its order dated November 21, 2016 granted stay against the order of CCI imposing a condition that the company shall deposit 10 percent of the penalty in the Registry of the Tribunal in the form of fixed deposits for six months from the date of its order.”
It said that “The company is arranging to deposit the amount as aforesaid…”
