The Ramco Cements Ltd. is planning to move the Supreme Court against the July 25 order passed by the National Company Law Appellant Tribunal (NCLAT) dismissing the appeal made by Ramco Cements and others.
An appeal was filed in the NCLAT by Ramco Cements and others to challenge the order of the Competition Commission of India (CCI) imposing a penalty of Rs. 6,700 crore on 11 cement firms, including UltraTech, ACC, Ambuja, Ramco, JK Cement and the Cement Manufactures’ Association (CMA) for alleged cartelization.
CCI imposed a penalty of Rs. 258.63 on Ramco Cements Ltd.
“As Ramco believes that it has a good case, it has decided to go on an appeal to the Supreme Court, and, hence, no provision is made,” the company said in a statement.
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Legal Insiders
Jul 03, 2020
Prachi Misra
(
Editor: Ekta Joshi
)
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On 2nd July 2020, the National Company Law Appellate Tribunal issued a notice stating that it will duly be remained closed till 10th July 2020 after two staff tested Corona positive. Earlier, the Appellate Tribunal was closed on 26th June 2020 which was to be extended till 3rd July 2020 for sanitization and sealing of the premises. The Hon’ble Acting Chairperson, Hon’ble Members, Officers of the Registry, and the staff of this Appellate Tribunal has come in direct contact with the...
NCLAT Upholds Insolvency Proceedings Against Alok Infrastructure
Business
Jan 19, 2019
Editor : Shreya Bansal
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The National Company Law Appellant Tribunal (NCLAT) on January 16, 2019, in the case of Ashok B. Jiwrajka, Director of Alok Infrastructure Ltd. v. Axis Bank Ltd. has upheld the insolvency proceedings against Alok Infrastructure, a subsidiary of Alok Industries.A Bench comprising of Chairperson Justice S. J. Mukhopadhaya and Member Justice Bansi Lal Bhat (Judicial) was hearing an appeal filed against an order passed by the Mumbai Bench of NCLT wherein it had admitted insolvency proceedings...
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