The Competition Apellate Tribunal (COMPAT), which is hearing DLF's appeal in the CCI's judgment against a Rs 630-crore fine, could take longer than the scheduled time before it pronounces its final verdict.
CNBC-TV18's Ronojoy Banerjee reports, quoting sources, that the delay is on account of the case going in for a re-hearing since a new chairman is slated to take charge at the Competition Apellate Tribunal. Also watch the accompanying video.
The delay has been attributed to a likely re-hearing because a new incumbent chairman is slated to take over COMPAT by the end of May after Justice Arijit Pasayat retired on the May 9.
According to sources, former Supreme Court Judge VS Sirpurkar is likely to takeover as the new chairman of COMPAT. Sources add that Sirpurkar was proposed for the post by the Chief Justice of India a month ago and hint that the stay order COMPAT had imposed on the CCI fine would remain.
DLF's appeal against the CII fine has been pending with COMPAT for almost eight months now.
The CCI fine of Rs 630-crore fine imposed on DLF is till date the biggest penalty delivered by the competition regulator. When contacted, the DLF spokesperson, declined to comment saying that the case was sub judice.
COMPAT's final verdict is hoped to be issued in 7-8 months' time.
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