NCLAT quashes 301.61cr CCI penalty on Grasim Industries, orders rehearing
Business
Grasim Industries just got a major break: NCLAT has scrapped the ₹301.61 crore fine that the Competition Commission of India (CCI) slapped on it back in 2020.
The penalty was about Grasim allegedly using its market power unfairly in the viscose staple fiber business, but NCLAT said Grasim didn't get a fair shot to defend itself and has now called for a fresh hearing.
Independent CCI review, Grasim to respond
NCLAT wants CCI to start over and make an independent decision, without being influenced by what happened before.
This time, Grasim will get to respond properly to all the disputed points.
Earlier, CCI had told Grasim to be more transparent with its discounts and stop restricting buyers: now all eyes are on what changes after this new review.