Failure to comply with Demand Notice Provisions Attracts Liability for Penal Interest: Delhi HC Sets Aside CCI’s order [Read Order]

In the absence of a notice of demand, it was determined that the obligation to pay penal interest did not arise.
Demand Notice Provisions Attracts Liability - Penal Interest - Delhi HC - CCI’s order - TAXSCAN

The Delhi High Court has set aside the Competition Commission of India’s (CCI’s) order, stating that failure to adhere to notice provisions incurs liability for penal interest. The proceedings were initiated against Petitioner No.1/Geep Industries (India) Pvt. Ltd and Petitioners Nos.2, 3 and 4, who were directors of the Petitioner No.1/Company under the Competition Act,…

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