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11 April 2019
In its 18 May 2018 judgment in M/s B Himmatlal Agrawal v Competition Commission of India (Civil Appeal 5029/2018), the Supreme Court set aside an order of the National Company Law Tribunal (NCLAT) and restored the appeal which had been dismissed thereby.
The appeal before the Supreme Court was filed against the NCLAT's 21 December 2017 order, which had stayed a 4 December 2017 Competition Commission of India order imposing a penalty on the appellant. The stay order had been granted subject to the appellant paying a sum equal to 10% of the total penalty. However, the appellant had been unable to comply with the stay order due to financial distress. As such, the NCLAT had dismissed the appeal for non-compliance.
The Supreme Court's landmark ruling has confirmed that the right to appeal envisioned by Section 53B of the Competition Act cannot be restricted by the requirement that a pre-deposit be paid.
For further information on this topic please contact MM Sharma at Vaish Associates by telephone (+91 11 4249 2525) or email (email@example.com). The Vaish Associates website can be accessed at www.vaishlaw.com.
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