NCLAT sets aside pleas against CCI's Rs 873-cr penalty on UBL, beer makers
The National Company Law Appellate Tribunal (NCLAT) on Friday upheld the Rs 873-crore penalty imposed by fair trade regulator CCI on UBL and other beer makers.
A two-member bench said after examining the materials and considering the arguments, it was of opinion that the "appellants had already admitted in the leniency application regarding their involvement in the cartelisation".
Referring to the batch of petitions moved by the beer makers before the CCI seeking reduction in penalty, the NCLAT said: "Lesser penalty application is like an admission of guilt in a cartel."
"Once they have admitted their involvement in an application filed under Section 46 read with Regulation 5, they were only entitled to question the imposition of penalty," said the two-member bench comprising Justices Rakesh Kumar and Ashok Kumar Mishra.
The Competition Commission of India (CCI) on September 24, 2021, imposed penalties totalling over Rs 873 crore on UBL, Carlsberg India, All India Brewers' Associat