Supreme Court of India
Competition Commission of India v. Thomas Cook (india) Ltd. & Anr.
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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 – T he three respondent companies decided about de-merger/amalga mation – Share Subscription Agreement (SSA), Share Purchase Agreement (SPA), Open Offer and Market Purchases were also pa rt of the transaction – Respondents sent Notice u/s. 6(2) to appellant- Commission notifying only ‘Demerger’ and ‘Amalgamation’ and n ot other transactions – Other transactions were, howev er, disclosed while claiming exemption u/s. 5 – Appellant-Commissi on imposed penalty u/s.43A
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