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Shardul Amarchand Mangaldas & Co successfully gets a stay from the NCLAT in its first interim protection against an order of the Competition Commission of India

Shardul Amarchand Mangaldas & Co successfully gets a stay from the NCLAT in its first interim protection against an order of the Competition Commission of India

On May 31, 2017, the National Company Law Appellate Tribunal, in its first significant decision against the order of the Competition Commission of India (CCI) has stayed the penalty of INR 591.01 Crores imposed upon Coal India Limited (CIL) for abusing its dominant position in its Fuel Supply Agreements (FSAs) with power sector utilities. The CCI after hearing the matter, which was remanded by the COMPAT had found CIL and its subsidiaries to be imposing unilateral terms in the FSAs. Shardul Amarchand Mangaldas & Co (SAM & Co) acted as the legal advisor to Coal India Limited and its subsidiaries, in this matter involving imposition of a fine of INR 591.01 Crores on CIL. On May 26, 2017, the Government of India passed a gazette Notification bringing into force the provisions of the Finance Act, 2017, dealing with the merger of Tribunals. Resultantly, the National Company Law Appellate Tribunal (NCLAT) is now the appellate body which will be hearing appeals against the orders of the Competition Commission of India as the Competition Appellate Tribunal (COMPAT) has ceased to exist.

Shardul Amarchand Mangaldas & Co Team was led by Pallavi Shroff, Managing Partner, assisted by Harman Singh Sandhu, Partner, Yaman Verma, Principal Associate, Toshit Shandilya, Senior Associate, and Gauri Mehta, Associate, all from the Competition Law Practice. Shardul Amarchand Mangaldas & Co briefed Neeraj Kishan Kaul, ASG and Mr. Rajshekhar Rao, Advocate, to appear on behalf of CIL and its subsidiaries in this matter

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