New Delhi: The Competition Appellate Tribunal today set aside the Rs 1,773 crore fine imposed on Coal India for unfair business ways and asked CCI to consider the matter afresh. At least two other orders passed by the Competition Commission of India (CCI) related to Coal India where the former did not impose any penalty have also been set aside.
The orders have been quashed on the ground that the regulator did not follow the principles of natural justice while hearing the parties concerned. Finding the state-owned miner violating fair trade norms with regard to fuel supply pacts, CCI had penalised the company in December 2013. Following an appeal by Coal India, the tribunal had stayed implementation of the regulator’s order in February 2014. Compat said it hopes CCI would make an endeavour to hear the parties and pass appropriate orders as early as possible, “not later than two months of the receipt of this order”.
