COMPAT sets aside penalty of Rs. 6,316 crores on 11 cement companies

Competition Act, 2002: COMPAT sets aside the impugned order passed by the CCI whereby the appellants were held guilty of having acted in violation of Section 3(3)(a) and 3(3)(b) read with Section 3(1) of the Competition Act, 2002 and penalty @ 0.5 times of net profit was imposed on ten appellants (manufacturers of cement) and penalty of 10% on total receipts for two years was imposed on the Cement Manufacturer's Association. COMPAT also, remitted the matter to CCI for fresh adjudication of the