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| Exchange Received Time 09/05/2018 18:17:40 Exchange Disseminated Time 09/05/2018 18:17:46 Time Taken 00:00:06 | This is further to our letter as abovementioned, vide which, we had informed the Exchange that the Competition Commission of India (CCI), in a Suo Moto case against the Company & Others had passed an Order, imposing penalty of Rs. 171.55 Crores (Rupees One Hundred and Seventy One Crores and Fifty Five Lakhs only) on the Company.
The Company preferred an appeal and stay application before the Hon. National Company Law Appellate Tribunal, New Delhi, (NCLAT) against the CCI's Order dated April 19, 2018. The same was listed today and the Hon. NCLAT was pleased to stay the penalty with the direction of depositing 10% of the penalty amount within 15 days with the Registry of the NCLAT.
We are awaiting the order of the NCLAT and would be complying with the same, as applicable.
The above intimation is for your information and records.
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