Supreme Court of India
Competition Commission of India v. Thomas Cook (india) Ltd. & Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
Resultantly, the appeal filed by the Commission is allowed, the order passed by the Tribunal is set aside, and passed by the Commission imposing penalty of Rupees One crore is hereby restored.
Judgment, page 19
From the headnote
Competition Act, 2002: ss.6(2) and 43A – Imposition of penalty u/s.43A for non- compliance of provision u/s.6(2) – Propriety of – The three respondent companies decided about de-merger/amalgamation – Share Subscription Agreement (SSA), Share Purchase Agreement (SPA), Open Offer and Market Purchases were also part of the transaction – Respondents sent Notice u/s. 6(2) to appellant- Commission notifying only ‘Demerger’ and ‘Amalgamation’ and not other transactions – Other transactions were, however, disclosed while claiming exemption u/s. 5 – Appellant-Commission imposed penalty u/s.43A of Rs.
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