Gujarat Alkalies & Chemicals has informed about the Order dated 05.10.2017 passed by the Competition Commission of India (CCI) imposing penalty of Rs 1.88 Crore on the Company. The Company filed an Appeal before the Hon. National Company Law Appellate Tribunal, New Delhi challenging the said Order. In this connection, the company infomred that the Hon. National Company Law Appellate Tribunal (NCLAT), New Delhi has vide its Order dated 04.12.2017 stayed the Order dated 05.10.2017 passed by CCI. The NCLAT has ordered to deposit 10% of the penalty amount as determined in the Order passed by CCI.
The above information is a part of company’s filings submitted to BSE.
