CCI penalty

In the first ever major penalty on a state-owned company, the Competition Commission has slapped a fine of Rs 1,773.05 crores on Coal India for abusing its dominant position for the production and supply of dry fuel. The ruling came on complaints filed by the Maharashtra State Power Generation Company and Gujarat State Electricity Corporation. The company has further been asked to make amendments to Fuel Supply Agreements, after consulting all stakeholders. Such agreements must ensure parity between old and new power producers, as well as between private and PSU power producers.