https://www.taxtmi.com/caselaws?id=275665 The Tribunal modified the penalties imposed by the Competition Commission of India (CCI) on the appellants for contravention of Section 3(3)(d) read with Section 3(1) of the Competition Act, 2002, by reducing the penalty from 5% to 3% of the average turnover of the last three years. This decision considered the nascent stage of competition jurisprudence in India and the fact that this was the first instance of cartelization and bid rigging by the parties. The appellants were ordered to deposit the revised penalty amounts within 90 days. en-us Mon, 25 Feb 2013 00:00:00 +0530 Tue, 20 Nov 2018 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275665 The Tribunal modified the penalties imposed by the Competition Commission of India (CCI) on the appellants for contravention of Section 3(3)(d) read with Section 3(1) of the Competition Act, 2002, by reducing the penalty from 5% to 3% of the average turnover of the last three years. This decision considered the nascent stage of competition jurisprudence in India and the fact that this was the first instance of cartelization and bid rigging by the parties. The appellants were ordered to deposit the revised penalty amounts within 90 days. Case-Laws Law of Competition Mon, 25 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275665