24th-Jul-2012 10:24Source: BSE

United Phos - Updates

With reference to the earlier announcement dated April 26, 2012, regarding the Competition Commission of India (CCI) has levied penalty of Rs. 252.44 crores on the Company for alleged violation of sections 3 (3) (b) and 3 (3) (d) of the Competition Act, 2002, United Phosphorus Ltd has now informed BSE that, that appeal is filed against the aforesaid order before the Competition Appellate Tribunal (COMPAT) in June, 2012. Further, at the hearing of the stay petition on July 18, 2012, COMPAT was pleased to giant stay against the order of CCI on the condition that the Company deposit 10% of the penalty amount with the Registrar of COMPAT within eight weeks. The Company is seeking further clarifications from COMPAT in this regard.