Compat stays fair trade regulators Rs 25-crore fine on Adani Gas

Written by fe Bureau | New Delhi | Updated: Aug 30 2014, 08:16am hrs
In a relief for Adani Gas, the Competition Appellate Tribunal (Compat) has ordered a stay on the Rs 25-crore fine imposed on the company by the fair trade regulator. Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group.

The tribunal has also stayed the Competition Commission of India (CCI) order, directing modification of the gas sale agreements (GSA) related to supply and distribution of natural gas by Adani Gas in Faridabad.

The case was taken up by CCI following an information filed by Faridabad Industries Association and the final order was passed in July this year. Apart from directing Adani Gas to cease and desist from unfair practices, the CCI had asked the company to modify the Gas Sales Agreements (GSAs).