NCLAT stays CCI penalty on NTPC for non-disclosure on acquisition of Ratnagiri Gas & Power shares

The National Company Law Appellate Tribunal (NCLAT) has stayed a CCI order that imposed a penalty on state-owned power producer NTPC for not disclosing the acquisition of 35.47 per cent equity share capital in Ratnagiri Gas & Power Private Ltd.

The Competition Commission of India on August 22, 2023, imposed a penalty of Rs 40 lakh on NTPC for non-disclosure of its acquisition of 35.47 per cent of the equity share capital in Ratnagiri Gas & Power Private Ltd (RGPPL).

This was challenged by NTPC before the NCLAT, which is an appellate authority over the orders passed by the Competition Commission of India (CCI).