Supreme Court admits cement companies’ appeal against 6,300 cr penalty upheld by NCLAT

Aditya AK October 6 2018
Cement Cartel

The Supreme Court on Friday admitted a batch of appeals filed by cement companies that were directed to pay a cumulative penalty of Rs 6,300 crore for cartelisation.

The Bench of Justices Rohinton Nariman and Navin Sinha also held that the interim order passed by the National Company Law Appellate Tribunal (NCLAT), which directed the companies to deposit 10 per cent of the penalty along with an undertaking to pay the remainder amount at an interest of 12 per cent per annum, would continue . . .

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