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UPL Limited - Updates
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10 May 2017
We had informed vide our letter dated 26th April 2012 that the Competition Commission of India (CCI) had levied a penalty of Rs. 252.44 crores for violation of Section 3 (3) (b) and 3 (3) (d) of the Competition Act, 2002 vide its order dated 23rd April 2012. The Company had filed an appeal against the said order before the Competition Appellate Tribunal (COMPAT). COMPAT reduced the penalty to Rs. 6.94 crores vide its order dated 29th October 2013. Against this order, the Company and CCI had filed appeals before the Hon&apos;ble Supreme Court of India. In this regard, now we wish to inform you that the Hon&apos;ble Supreme Court vide its order dated 8th May 2017 has upheld the judgment of COMPAT and confirmed levy of penalty of Rs. 6.94 crores. It has also dismissed the appeal of CCI. The Company has already deposited the amount of penalty. May we request you to take the same on record and inform all your constituents accordingly.
View all announcements for UPL Limited Source: BSE India