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India: CCI ruling against Adani Gas challenged by Tribunal

By  |  September 1, 2014

The Competition Appellate Tribunal of India has reportedly stayed an earlier decision by the Competition Commission of India that modifies a gas sale contract order against Adani Gas.

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    According to reports, the Tribunal announced that “no coercive steps shall be taken for the recover of penalty till further orders. There shall also be a stay on the direction of CCI on the modification of the agreement.”

    The Tribunal said it would hold its next hearing on the matter on September 10.

    The CCI had previously ordered Adani to halt anticompetitive business practices and has ordered Adani to modify its Gas Sales Agreements; authorities also issued a fine on Adani.

    In its ruling, the CCI found Adani Gas held a “dominant position in the relevant market of supply and distribution of natural gas to industrial consumers in the district of Faridabad, Haryana.”

    The CCI’s ruling also found that Adani had violated antitrust law by imposing “unfair conditions upon the buyers” under its Gas Sales Agreements.

    Full content: Business Standard

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