National Company Law Appellate Tribunal

The Supreme Court upheld the National Company Law Appellate Tribunal's (NCLAT) decision to set aside the Competition Commission of India's (CCI) ₹301.6-crore penalty on Grasim Industries. The tribunal found that CCI failed to allow Grasim to present its arguments after it disagreed with the findings of the Director General (DG), the CCI's probe unit.

The National Company Law Appellate Tribunal is addressing a legal question on whether the protection under the Insolvency and Bankruptcy Code (IBC) moratorium applies to assets subject to simultaneous proceedings under the Prevention of Money Laundering Act (PMLA). The issue involves whether the Enforcement Directorate (ED) can attach a company's assets post-insolvency.