Chandhiok & Associates gets stay on CCI's 87 crore penalty imposed on Hyundai

Aditya AK July 20 2017

The National Company Law Tribunal (NCLAT) has stayed an order of the Competition Commission of India (CCI) imposing a penalty of Rs. 87 crore on Hyundai.

However, the NCLAT has directed Hyundai to deposit nine crore rupees with the Ministry of Corporate Affairs within a week. In case the appeal is allowed, the amount will be refunded with interest.

Two former dealers of Hyundai vehicles in India – FX Enterprise Solutions and St. Antony’s Cars – had filed complaints before the CCI . . .

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