NCLAT Stays CCI Order Imposing a Penalty of INR 40 lakh (Approx. US$ 48 Thousand) on National Thermal Power Corporation for Non-Disclosure of Acquisition of Shares of Ratnagiri Gas & Power

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Feb 12, 2024

NCLAT Stays CCI Order Imposing a Penalty of INR 40 lakh (Approx. US$ 48 Thousand) on National Thermal Power Corporation for Non-Disclosure of Acquisition of Shares of Ratnagiri Gas & Power

On December 4, 2023, NCLAT stayed the CCI Order dated August 22, 2023, under Section 43A of the Competition Act which penalised National Thermal Power Corporation (‘NTPC’) for non-disclosure of the acquisition of 35.47% stake in Ratnagiri Gas & Power Private Limited (‘Impugned Order’) till the next hearing date of February 27, 2024. ^[1]

[1] Competition Appeal (AT) No.13/2023.

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