COMPAT may take sometime to decide on cement case: CCI

In an interview to CNBC-TV18, R Prasad, member of the Competition Commission of India says the case hearing will be on October 11. "In any appeal, all the parties have to be heard. Competition Commission of India (CCI) will also be heard. CCI will present its case. The cement company will present their case and then COMPAT will decide the issue," he adds.

He further says the COMPAT has stayed the recovery of demand till October 11. "The hearing will be on October 11. The likelihood is that the stay will continue for sometime. They may ask some bank guarantee to be paid to COMPAT for the time being and the balance will be stayed. It will take sometime for the appeal to be decided," he adds.

Below is the edited transcript of his interview with CNBC-TV18's Udayan Mukherjee.

Q: How did you read that notice served to you?

A: In the notice, the case is now fixed again on October 11. In any appeal, all the parties have to be heard. Competition Commission of India (CCI) will also be heard. CCI will present its case. The cement company will present their case and then COMPAT will decide the issue.

Q: But does it look like your case is standing on weaker ground because of the way the case is being challenged by the Competition Tribunal?

A: COMPAT has to decide that. The Commission cannot comment on anything on that. COMPAT will decide whether it is a weak case or a strong case.

Q: What is the sequence of the flow of events from hereon?

A: They have taken cognizance of the appeals. The COMPAT has stayed the recovery of demand till October 11. The hearing will be on October 11. The likelihood is that the stay will continue for sometime. They may ask some bank guarantee to be paid to COMPAT for the time being and the balance will be stayed. It will take some time for the appeal to be decided.

Q: Do you think it’s moving in the same direction as the DLF case?

A: There is certain problem in DLF case. But in this case there is no such problem. In DLF case, the issue was that some part of the agreement was unfair. We to see what will be the fair agreement and that duty is cast on the Commission by COMPAT. That has to be decided first and then the appeal will be decided by COMPAT. That is fixed on October 4.