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of Penalty imposed on a small player in dry cell battery market reduced from 4% to 2% of relevant turnover due to mitigating factors like insignificant market share, lack of bargaining power, losses suffered in the relevant market. However, interest on penalty not waived despite appeal pendency. Tribunal relied on Supreme Court's Excel Crop Care judgment, holding penalty must relate only to relevant market turnover and percentage determined based on aggravating/mitigating factors. Dry cell battery market an oligopoly dominated by three major players with 88% combined share. Appellant suffered losses while co-contravener made profits in later years, justifying lesser penalty percentage. Officials' penalty upheld. Reduced penalty considering peculiar facts, not to be treated as precedent.
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