The Indian Competition Appellate Tribunal (COMPAT) upholds the Indian Competition Authority’s fine for gun jumping imposed on manufacturer of industrial chemicals and fertilizers (SCM Soilfert / Deepak Fertilizers and Petrochemicals)

COMPAT upholds penalty imposed on SCM Soilfert for “gun-jumping”* COMPAT by its order dated August30, 2016 has upheld the penalty imposed by the CCI on SCM Soilfert for failure to file a notice under Section 6(2) of the Competition Act, 2002 (the Act) for a combination. Deepak Fertilizers and Petrochemicals Corporation Ltd. (DFPCL) is a company engaged in manufacturing and trading of industrial chemicals and fertilizers and is a listed company and SCM is DFPCL’s wholly owned subsidiary. On July 3, 2013, SCM purchased shares of Mangalore Chemicals and Fertilizers Limited (MCFL) on Bombay Stock Exchange amounting to 24.46% of the paid up capital of MCFL. DFPCL issued a pressrelease stating that the purchase was a

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  • Vaish Associates, Advocates (New Delhi)

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Man Mohan Sharma, The Indian Competition Appellate Tribunal (COMPAT) upholds the Indian Competition Authority’s fine for gun jumping imposed on manufacturer of industrial chemicals and fertilizers (SCM Soilfert / Deepak Fertilizers and Petrochemicals), 30 August 2016, e-Competitions Bulletin August 2016, Art. N° 87650

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