Supreme Court of India
Scm Solifert Limited & Anr. v. Competition Commission of India
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From the headnote
Competition Act, 2002 – ss.5(a)(i), (ii), 6(2), 43A – Appe llants acquired shares of a company (‘MCFL’) on two occasions – First acquisition was for 24.46% paid up share capital and the second acquisition was for a further 1.7% paid up share capital – Ap pellants filed notice disclosing details of the first acquisit ion and notifying second acquisition within 30 days of the second acq uisition – Competition Commission imposed penalty u/s.43A for failing to notify the proposed combination before the acquisition as required u/s .6(2) – Order upheld by appellate tribunal – On appeal, h eld:
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