Competition Commission imposes Rs 591 cr penalty on Coal India
The Competition Commission of India (CCI) has imposed penalty of Rs 591.01 crore on Coal India Limited (CIL) for abusing its dominant position, an official statement said on Friday.
"CCI has found CIL and its subsidiaries to be in contravention of the provisions of the Competition Act, 2002 for imposing unfair/discriminatory conditions in Fuel Supply Agreements (FSAs) with the power producers for supply of non-coking coal," said a Finance Ministry statement."CCI has imposed a penalty of Rs 591.01 crore upon CIL for the abusive conduct," it said.
The order has been passed by CCI on the directions issued by Competition Appellate Tribunal while sending the matter back to it after setting aside the CCI's original order in which a penalty of Rs 1,773.05 crore had been imposed.
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