SPICEJET LTD. - Updates

Spicejet Ltd has informed BSE that :<BR><BR>"This has reference to appeal filed by SpiceJet Limited (the "Company") before the Competition Appellate Tribunal ("COMPAT") against the order dated November 17, 2015 of the Competition Commission of India ("CCI") imposing penalties on various airlines, including the Company for alleged concerted action in relation to cargo fuel surcharge.<BR><BR>In this regard, the COMPAT vide its order dated April 18, 2016 has set aside the impugned order of the CCI and the matter has been remanded back to the CCI with direction to re-consider the report of the Joint Director General ("JDG") and to take<BR>appropriate decision under Section 26(8) of the Competition Act, 2002 and in the event the CCI disagrees with the findings and conclusions recorded by the JDG, then the CCI shall indicate the reasons for such disagreement and issue notice to the<BR>parties incorporating the reasons of disagreement and give them opportunity to file their replies/ objections and thereafter to pass appropriate order in accordance with law."