https://www.taxtmi.com/caselaws?id=760236 NCLAT reduced penalty imposed on battery manufacturer from 4% to 2% of turnover in cartel case. Court found appellant was small player with 2% market share suffering losses, unlike co-violator who had profits in later years. Both companies violated Competition Act through product supply agreements with dominant player. While penalty was reduced considering appellant's insignificant market position and losses in dry cell battery business, NCLAT refused to waive interest on penalty amount despite appeal's pendency since 2019, stating appeal pendency cannot justify interest waiver. en-us Fri, 05 Apr 2024 00:00:00 +0530 Thu, 17 Oct 2024 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760236 NCLAT reduced penalty imposed on battery manufacturer from 4% to 2% of turnover in cartel case. Court found appellant was small player with 2% market share suffering losses, unlike co-violator who had profits in later years. Both companies violated Competition Act through product supply agreements with dominant player. While penalty was reduced considering appellant's insignificant market position and losses in dry cell battery business, NCLAT refused to waive interest on penalty amount despite appeal's pendency since 2019, stating appeal pendency cannot justify interest waiver. Case-Laws Companies Law Fri, 05 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760236