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| Exchange Received Time 19/09/2018 18:30:25 Exchange Disseminated Time 19/09/2018 18:30:30 Time Taken 00:00:05 | Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that Hon'ble Competition Commission of India (CCI) has vide its order dated 18.09.2018, has passed an Order inter-alia, against various sugar companies including Bajaj Hindusthan Sugar Limited for alleged contravention of provisions of The Competition Act, 2002 in respect of joint tender floated by Oil Marketing Companies (OMCs) for supply of Ethanol and imposed penalty of Rs. 12.35 Crore on the Company.
Based on the Company's own assessment and advice given by its legal counsels, Company believes that it has a good case for succeeding in appeal and will accordingly file its appeal against the Order before the appropriate authority in accordance with the law.
The same may please be taken on record and suitably disseminated to all concerned. |
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