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Indian tribunal upholds LPG cartel case but antitrust watchdog asked to recalculate penalties

( November 16, 2022, 06:07 GMT | Official Statement) -- MLex Summary: LPG cylinder manufacturers received a temporary reprieve when the Indian tribunal told the antitrust watchdog to recalculate the penalties levied in the LPG cartel case. The National Company Law Appellate Tribunal upheld the Competition Commission of India's order that the LPG cylinder manufacturers were guilty of cartelization and bid rigging in the tenders floated by state-owned oil marketing company Hindustan Petroleum Corporation. However, The CCI was directed to reduce or waive the fines after hearing the LPG cylinder manufacturers were small-to-medium-sized enterprises. The tribunal also noted that the fine should be based on when the bid rigging took place and not on the basis of the CCI's decision. Given that CCI doesn't currently have a three-member quorum, it cannot yet act on the tribunal's call to recalculate the penalties.The order is attached....

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