NCLAT has set aside the Competition Commission of India’s Rs 301.6 crore penalty on Grasim Industries, directing the CCI to conduct a fresh hearing. The tribunal said Grasim was denied a chance to argue after the CCI disagreed with its own investigation wing’s findings. The dispute relates to alleged dominance in the viscose staple fibre market.
Grasim’s anti-competition complaint has triggered a CCI probe into Asian Paints, spotlighting a growing battle for market share in decorative paints. With aggressive new players like JSW and Birla Opus entering the fray, the once-settled market dynamics are shifting fast, potentially leading to major shakeups for the incumbents.
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