TMI Blog2013 (12) TMI 1666X X X X Extracts X X X X X X X X Extracts X X X X ..... mar Chaudhari, Shri Vijay Chauhan, Shri Sagardeep Rathi, Advocates in Appeal Nos. 38, 46 and 65 of 2012, Mr. M.M. Sharma, Ms. Deepika Rajpal, Mr. Vaibhav Chaukse, Advocate in Appeal Nos. 41 and 54/2012, Shri N.S. Nandakumar, Advocate in Appeals Nos. 35, 36 and 37 of 2012, Shri Pradeep Aggarwal, Shri Rajesh Aggarwal, Shri Umesh Pratap Singh, Advocates in Appeals Nos. 39, 40, 42, 44 and 47 of 2012, Shri Atul Nanda, Senior Advocate, Shri Jaiveer Shergill, Shri Ankur Sood, Ms. Rameeza Hakeem, Ms. Priyadarshi, Advocates in Appeal Nos. 48, 50, 58 and 62 of 2012, Shri Kuljeet Rawal, Mr. Jagjit Singh, Advocates in Appeal No. 52/2012, Shri P.K. Bhalla, Advocate in Appeal No. 53/2012, Shri O.P. Gaggar, Advocate in Appeal No. 64 of 2012 and Shri O.P. Aggarwal, Advocate For the Respondent: Ms. Anupam Sanghi, Advocate and Dr. Shabistan Aquil, DD(L) ORDER V.S. Sirpurkar, J. (Chairman) 1. This judgment will dispose of the following appeals 1. M/s. International Cylinder (P) Ltd. 2. M/s. HIM Cylinders Ltd. 3. M/s. OMID Engineering (P) Ltd. 4. M/s. S.M. Cylinders (P) Ltd. 5. M/s. Tirupati LPG Industries Ltd. 6. M/s. Tirupati Cylinders Ltd. 7. M/s. Bala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st three years turn over. In some cases the turn over was not available the CCI calculated the average turn over of last two years. In case of Hyderabad Cylinders, the penalty was imposed @2.1 times of its net profits as details were not available at all. Needless to say we need not consider the imposed penalty against the Hyderabad Cylinders as Hyderabad Cylinders have not come up in appeal before us. The CCI has neatly discussed the details of the penalty separately in case of defaulting companies. Thus, out of original 47 companies, one company M/s. Hyderabad Cylinders has not filed an appeal at all while two companies were totally exonerated as stated earlier. The rest 44 companies have come up before us in these appeals. The suo-motu proceedings were started by the CCI on the basis of the information received by it in case No. 10 of 2010 M/s. Pankaj Gas Cylinders Ltd. Vs. Indian Oil Corporation Ltd. In that case a complaint was made by M/s. Pankaj Gas Cylinders complaining before the CCI about unfair conditions in the tender floated by M/s. Indian Oil Corporation Ltd. (for short 'IOCL') for the supply of 105 lakh 14.2 Kg. capacity LPG Cylinders with SC valves in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CL procured 105.16 lakh cylinders, HPCL floated a tender for 36 Lakh Cylinder and BPCL floated a tender for 40.33 lakh cylinders. While HPCL and BPCL had adopted e-platform for tender invitation, IOCL had procured cylinders by way of invitation of tenders. 4. Be that as it may. As per the D.G.'s report, the process of bidding followed by the IOCL in the tender was as under:- i) The bidders would submit their quotations with the bid documents. ii) The existing bidders, who were existing suppliers, were required to submit the price bids and technical bids. iii) The bidders were to quote for supplies in different States of India in keeping with their installed capacity. iv) After price bids were opened the bidders were arranged according to the rates in the categories of L-1, L-2 and L-3. v) The rates for the supplies in different States were approved after negotiations with L-l bidder. In case the L-l bidder could not supply a required number of cylinders in a particular States, the orders of supplies went to L-2 and also L-3 bidders or likewise depending upon the requirement in that state as per fixed formula provided in the bid documents. vi) Certain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that the LPG Cylinder Manufacturers had formed an Association in the name of Indian LPG Cylinders Manufacturers Association and the members were interacting through this Association and were using the same as a platform. Lastly date for submitting the bids in the case of concerned tender was 3.3.2010 and just two days prior to it, two meetings were held on 1st and 2nd March, 2010 in Hotel Sahara Star in Mumbai. As many as 19 parties took part and discussed the tender and in all the probability, prices were fixed there in collusion with each other. The D.G. reported that the bidders had agreed for allocation of territories, e.g., the bidders who quoted the bids for Western India had not generally quoted for Eastern India and that largely the bidders who quoted the lowest in the group in Northern India, had not quoted generally in Southern India. 8. The D.G. had also concluded that this behavior created entry barrier and that there was no accrual of benefits of consumers nor were there any plus factors like improved production or distribution of the goods or the provision of services. 9. Ultimately, the D.G. came to the conclusion that there was a cartel like behavior on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... articular State, who may have appointed common agents. Due to this reason, cutting and over-writing in the price bids for the tender in question was noticed by the DG. 12. It was further pointed out that there were only 62 qualified tenderers in the whole country, out of whom 12 bidders were classified as new parties, meaning thereby that they had not supplied Cylinders in last three years and were not required to bid in the tender. Out of the remaining 50 bidders, there were group companies controlled by single management. It was urged that price parallelism is a common feature in oligopolistic market and that particular conduct by itself is not prohibited, nor does it create a presumption of collusion and cauterization. 13. It was also submitted that all the tenderers were not the members of the LPG Gas Cylinders Association and they had not participated in the alleged meeting at Mumbai. It was urged that the price of LPG Cylinder is indirectly determined by the Oil Marketing Companies through forced negotiations. It was also denied in this reply that there was any meeting of mind or agreement amongst the tenderers. It was admitted that the meetings at Mumbai was attended b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ged by him, more particularly, that this was all the more true and there was a Monitoring Committee headed by one of the able officers. He states that monitoring committee was consulted by the Director General during the investigation. It was also urged that since prior to the tender supplies were made to HPCL and BPCL at higher rates, there was no point in colluding to form a cartel for low price. It was the effort on the part of the learned counsel to show that the prices at which the orders were given were even lower to the prices quoted and the prices offered to the other companies. Even during the arguments Shri Sharma appearing for 44 parties on whose behalf he had filed a common reply had relied on DG's report more particularly at page 6 that there were six common agents and under the instructions of their principals they might have known each other's prices which resulted in offering the identical pricing on number of occasions and in number of States. Shri Sharma like others also argued that the existence of the agreement was never proved. 15. The CCI in its detailed and carefully written order began with considering the scope of constructed bid rigging agreemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s like turn over for the last two years. Two parties namely M/s. JBM Industries Ltd. and M/s. Punjab Cylinders Ltd. were exonerated and were let off. Though we are not satisfied at all with the reasons given by the CCI for their exoneration, we cannot consider their case as there is no appeal against the verdict of the CCI is before us. A very strong argument was addressed on the basis of exoneration of those two parties to the effect that the case of some appellants were similar or almost identical to the case of M/s. JBM Industries Ltd. and M/s. Punjab Cylinders Ltd. and, therefore, they should also be given the same treatment by us. The argument is per se incorrect. Wrong exoneration of some of the parties does not entitle the others who are decidedly guilty of the breach of the provisions and incorrect exoneration of some does not create any right to others particularly, if firstly the exoneration is incorrect and secondly the party claiming such treatment is proved to be guilty. We, therefore, proceed to reject that argument. 19. We must, at this juncture, discuss some admitted facts. It is an admitted fact that the tender offers were to be made at Mumbai on 3rd March, 2010 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inder manufacturers. The association had also provided a platform for expressing the feelings, grievances, requirements and commercial concerns to the public through all relevant measures. It also served the purpose of mediating, negotiating and arbitrating the grievances of the LPG cylinder manufacturers. All this goes to suggest that there was a definite platform available for all the cylinder manufacturers. There is a list of 76 members and practically all the appellants appear to be the members of that association. 21. The third significant factor, which we must consider at this juncture, is a common written reply submitted by as many as 44 parties. It is also to be noted that the appellants filed individual affidavits supporting this reply. It is apparent from that the appellants had nominated six agents for depositing their bids on their behalf and that it was a common practice amongst the bidders to direct their agents to keep close watch on the rates offered by their competitors in respect of a particular State. In fact, it was urged that this led to the possibility of copying and matching of the rates quoted in the price bids by many suppliers in a particular State, who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Shri Ram Cylinders, M/s. Him Cylinders Ltd., M/s. Omid Engineering Pvt. Ltd., M/s. Lite Containers Pvt. Ltd., M/s. Rajasthan Cylinders Containers Ltd., M/s. S.M. Cylinders and M/s. Sahuwala Cylinders Pvt. Ltd. There are clear admissions on the record which have been noted both by the DG as well as CCI that all those who attended the meetings were the Members of the Association and owners of these parties participated in the meeting held at Mumbai. The other 24 parties claimed not to have attended the meeting were M/s. Khara Gas Equipment Pvt. Ltd., M/s. Confidence Petroleum India Ltd., M/s. Andhra Cylinders and M/s. Hans Gas Appliances Pvt. Ltd. They are managed by Mr. Yatin Khara. The other parties taking similar stand about meeting are M/s. Faridabad Metal Udyog Pvt. Ltd., M/s. ECP Industries, M/s. Mahaveer Cylinder, M/s. Punjab Gas Cylinder Ltd., M/s. Konark Cylinders Containers, M/s. JBM Industries, M/s. Universal Cylinders, M/s. Asian Fab Tec Ltd., M/s. BTP Structural (I) Pvt. Ltd., M/s. G.D.R. Cylinders (P) Ltd., M/s. Gopal Cylinders, M/s. Sanghavi Cylinders Pvt. Ltd., M/s. RM Cylinders Pvt. Ltd., M/s. Jesmajo Industries Pvt. Ltd., M/s. Kurnool Cylinders Pvt. Ltd., M/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e parties on the basis of which the identical or near identical prices came to be quoted in tenders for the supply of cylinders to the 25 States. In view of this, we need not dilate on the individual claims by some of the appellants that they were not the members of the association or that they were only the dormant members or that they had abdicated their membership. We also need not go on the claim that while the meeting was attended by the 19 parties as held by the D.G. and confirmed by the CCI, it was not attended by the rest of the appellants because that would be of no consequence. Once there was a meeting, there was every opportunity to discuss or to communicate to each other whatever transpired in the meeting. 26. We have seen the order of the CCI and while commenting about the meeting, the CCI has painstakingly noted the details of that meeting. The CCI has referred to the evidence of Mr. Dinesh Goyal, who was an active member of the Indian LPG Cylinder Manufacturers' Association and noted that he had attended the meeting. He has also referred to the statement of Mr. Sandeep Bhartia of Carbac Group though initially he denied to have organized the conference, he late ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and BPCL did not fall for its consideration nor did it have any material to proceed against any of the tenders floated by those companies. Case No. 10 of 2010 against M/s. Pankaj Gas Cylinder had altogether a different factual background. That was a case where M/s. Pankaj Gas Cylinder was complaining against the conditions in the tender perhaps because it was not allowed to compete. That was entirely a different matter. The CCI on the basis of the investigation report, in that case, found out the element of identical and patternised pricing and hence ordered thorough investigation into the matter. The CCI had nothing to do against the IOCL. It was on account of the anti-competitive behavior on the part of the tenderers-appellants in this case, that the CCI ordered and in our opinion rightly an investigation. Therefore, not joining the IOCL in the investigation or not investigating into the BPCL and HPCL tenders is obviously irrelevant insofar as the present matter is concerned. We reject the argument to that effect made by some of the appellants. 28. Amongst the other plea raised by the parties before the Commission as well as before us, we must take note of some submissions, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. It was noted that except seven companies, all the bidders were the members of the association. They being - Asian Fab Tech Ltd., Faridabad Metal Udyog Pvt. Ltd., Gopal Cylinders, Krishna Cylinders, JBM Industries and Shri Ram Cylinders. It was noted by the CCI that out of these, Asian Fab Tech Ltd., which was previously Avatar Asian Cylinder, could be said to be a member, as Avatar Asian Cylinder was shown in the list of the members, which was supplied by the association. Thus, it concluded that this was a facilitating factor. The CCI also noted few other factors like repetitive bidding, identical products, few or no substitutes and no significant technological changes as additional factors. In so far as, factor of identical products is concerned, in fact, it was the defence of the appellants that the cylinder of 14.2 KG, which was the product, had the standardized norms for its production. Number of the learned counsel argued before us that since the components required for the manufacture of cylinder were standardized, there could be a possibility of the identical or nearly identical pricing policy. It was urged that in fact, the manufacturing cost of all the appellants coul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... despite being located in different places and having varied manufacturing cost, the appellants had quoted identical rates across the length and breadth of the country. The CCI then painstakingly did the analysis of the bids for 25 States. The result of the analysis was quite shocking. 32. In case of Punjab, where there were five bidders, four bidders had quoted identical rates of ₹ 1080.5 and one party only had quoted the rate of ₹ 1080. In case of Rajasthan, there were ten bidders and nine out of them had quoted identical rates of ₹ 1130.50 and only one had quoted the rate of ₹ 1130. In State of Haryana, where there were three parties, who were awarded the tender, two had quoted identical rates of ₹ 1085.5 and one had quoted ₹ 1085. Similar was the situation in the State of Chhattisgarh, where out of the four bidders, two quoted the price of 1095, while two others had quoted ₹ 1100 that is with a difference of ₹ 5. In the State of Uttranchal also four successful parties had quoted identical rates of ₹ 1081 and only one party had quoted the rate of ₹ 1080, with the difference of ₹ 1. In case of Delhi, seven succe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Maharashtra, out of eight parties, five quoted identical rates of ₹ 1100, while one quoted ₹ 1110 and the two quoted ₹ 1150. In case of Sikkim, both the parties quoted identical rate of ₹ 1150. In state of Kerala, out of eighteen, ten parties quoted the rate of ₹ 1151, two parties had quoted ₹ 1160, two quoted rate of ₹ 1170 and four others quoted ₹ 1152, ₹ 1153, ₹ 1154 and ₹ 1150.5 each. As far as State of Assam was concerned, out of four parties, two parties quoted ₹ 1175 and two others ₹ 1166 and ₹ 1165 respectively. For North East, there were eight parties, seven parties quoted the rate of ₹ 1240 and remaining one party quoted ₹ 1250. Lastly, in case of Andaman and Nicobar, only one party quoted the rate and won the contract. 33. The DG had deduced on the basis of these findings that all the 50 participating bidders had secured the orders. That the tender was awarded and the orders were placed on the sets of bidders, who have quoted the identical rates and near to identical rates in a particular pattern in almost all the States. That successful bid rates were quoted by different ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... match to the last decimal and the quotations in some cases were in odd figures like ₹ 1127 in the State of Tamil Nadu. The record is replete with such odd figures. It was strange that in some of the oral statements of the representatives of these parties, who were examined by the DG, some of them could not even justify these identical prices and tried to say that it was a mere coincidence. We cannot accept the argument of coincidence as was rightly rejected by CCI. There can be no explanation for this kind of identical or near identical pricing. The CCI has rightly considered that the manufacturing cost of per cylinder varies in a wide spectrum ranging from ₹ 870 to ₹ 1095.89. If this was the case, the prices had to be different, if they had been offered in a competitive spirit. Either before the CCI or before us no material was produced, which would be able to rebut the presumption arising from the identity of rates. The CCI, therefore, rightly concluded that this identity of prices was sinister and anti-competitive in nature. 36. The CCI had also noted the factor of supply at higher cost. It pointed out from the DCs report that owing to collusion, the IOCL co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led capacity and on the basis of the negotiated rates, there could be no possibility of incentive to collude. We have already pointed out earlier that even where the rates are fixed by negotiations, the bid-rigging can still take place, if the bidders collude and keep the bid amounts to a pre-determined level. It will be seen that such pre-determination can be by way of intentional manipulation by members of the bidding group and where the L-1 rates themselves get fixed like this at higher level, even if there are negotiations, the negotiator would have to take into consideration the benchmark rates. Even if, such benchmark rates are not accepted because of the negotiations, there is always a possibility that such benchmark rates could go higher in the subsequent tender. The CCI had rightly called it as a 'ripple' effect in long term. 39. It was very seriously argued before us that mere price parallelism will be of no consequence, because, it is a common phenomenon in a oligopolistic markets. It was contended by the learned counsel that where the market is dominated by small number of players, there is strong likelihood that each player would be aware of the actions of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the discussion by the CCI in this behalf and we have already endorsed the finding on that basis. Some counsel painstakingly pointed out to us that this very product was earlier supplied at higher rate to BPCL and HPCL and therefore, ultimate consumers were beneficial because of the lower price fixed in case of IOCL. The CCI has rightly rejected this argument and we also propose to do the same. Merely because in some other tender the OMCs did secure the cylinders at higher cost that by itself is not sufficient to rebut the presumption raised under Section 3(3). This is apart from the fact that before the CCI parties did not furnish any material to show that the supplies were made to other OMCs at higher cost in all the 25 States, involved in the tender under enquiry. In fact it is an established fact that the supply to the IOCL in the present tender is made at higher prices than the earlier ones. 41. Some other arguments were raised that some parties specially ECP Industries and Mauria Udhyog had received very small order. In our opinion, that fact is irrelevant, as it does not justify the collusive conduct of the bidders. Further, these concerns could not have known earlier the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave been made to dispel or to rebut the presumption raised. The argument is, therefore, clearly incorrect. While arguing for Supreme Technofabs Pvt. Ltd., Krishna Cylinders, Shriram Cylinders, Gopal Cylinders and Faridabad Metal Udyog Pvt. Ltd., Shri Pradeep Aggarwal by way of its additional written submissions reiterated his earlier arguments and tried to prove that these concerns were not the part of 44 concerns which had given the common reply. He also reiterated that these concerns were not the members of the Association and did not attend the Sahara meeting. We have already considered these arguments in the earlier part of the judgment and for the reasons given therein we are of the opinion that the arguments are inconsequential. Shri Aggarwal also relied on some so called admissions of Mr. Y.V. Ramana Rao in his questioning done by the D.G. in Pankaj Cylinders in Case No. 10 of 2010. He wanted to point out the exercise by the IOC for determination of final price on which the negotiations were based. Some questions to this witness were also put in that case on the aspects like the tender Committee. We feel that such approach is not possible and it is not possible to look into ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and determinative of the issue. We have no doubt about the correctness of this but we have pointed out the plus factors and the enormous evidence in this case in favour of the agreement in breach of Section 3(3) of the Act. The argument in that behalf is, therefore, rejected. 44. Shri Ramji Srinivasan appearing for Carbac Holdings Limited submitted that the Carbac's bid prices were not matching with any of the other bidders in any of the three States where it submitted its bids. We have already shown that insofar as the State of West Bengal is concerned Carbac bid prices did match with others. It was suggested that there was justification for the price of ₹ 1105. This was stated by Shri Srinivasan on the basis of the prices in the last tender of BPCL and HPCL. It was, therefore, urged that because of repetitive tenders by IOCL, BPCL and HPCL, the range of prices were known to all the bidders and, therefore, the CCI was factually incorrect to hold that the quoted prices of the bidders cannot be near about the same. We do not agree with this proposition. The matching prices in the State of West Bengal by Carbac could not be a matter of co-incidence. The other argument t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... K. applies a bare balance probabilities. In our opinion, there is very strong probability on the basis of the evidence led before the CCI. It is true that the application of the proof would differ from case to case and in accordance with the well established principle the unlikely and/or particularly serious events would require more convincing proof. In our opinion, in this case such proof is available. We, therefore, reject the argument of Shri Srinivasan. 45. The arguments of Shri P.S. Narsimhan, Shri Kuljeet Rawal, Shri Jacob Mathew, Shri P.K. Bhalla, for Vaish Associates, Shri Anshuman Jain and Shri Atul Nanda are more or the less on the same grounds which we have already appreciated earlier. All the arguments are in the nature that the prices were arrived at by way of an independent decision and had justification. We have already rejected those arguments. It was tried to urge by some of the counsel that firstly there was no appreciable adverse effect on competition and even if the presumption is raised in that behalf it would stand rebutted. We have already given our reasons to hold as to why there was no rebuttal of presumption. 46. Shri Venkat Raman while reiterating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 49. These are the only contentions raised before us by the learned counsel. We, therefore, proceed to confirm the order of the CCI insofar as its finding on issue No. 1 is concerned. 50. Shri Prasad has written a separate order, where he has concurred with the majority, that the appellants had acted in breach of Section 3(3)(d) of the Act. He, however, held that he was unable to agree with the findings of the Commission in case of JBM Industries and Punjab Cylinders. According to him, both these parties were guilty of breach of Section 3(3). The learned Member has held that the cylinder manufacturers had an association and that the manufacturers used to hold meetings prior to the opening of the tenders. According to him, the case of JBM Industries and Punjab Cylinders were not different. The learned Member then discussed the case of JBM Industries, which claimed that the LPG business constituted only 4.8% of the total turnover. The learned Member, however, rejected their argument that for this reason, there was no necessity for the company to be a part of any cartel. The learned Member held that about 29 concerns had not participated in the dinner on 1st March, however, they w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e who had not furnished the financial details, the details were taken from the website of the companies. It was held that in some cases the financial details could be available only for two years. The CCI decided to use the information assuming it to reflect the position in regard to the third year also. We find from this list that in the case of Konark Cylinders Containers Pvt. Ltd., Tee Kay Metals Pvt. Ltd., Sahuwala Cylinders, M/s. Universal Cylinders, Mahaveer Cylinders Ltd., Omid Engineers Pvt. Ltd., Bhiwadi Cylinders Pvt. Ltd., Shri Ram Cylinders, International Cylinders, Tripuati LPG Industries Ltd., Surya Shakti Vessels Pvt. Ltd., Faridabad Metal Udyog Pvt. Ltd., S.M. Cylinders Pvt. Ltd., M.M. Cylinders Pvt. Ltd., GDR Cylinders Pvt. Ltd., Kurnool Cylinders Pvt. Ltd., Tirupati Cylinders Ltd., SKN Industries Ltd., M/s. Supreme Technofabs P. Ltd., Balaji Pressure Vessels Ltd. are the companies where only last two years' of average turnover was considered. 53. However, in the following cases, three years' turnover was taken into consideration for fixing the penalties. They were the ECP Industries Ltd., Sunrays Engineers Pvt. Ltd., Jesmajo Industrial Fabrications Ka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ary. We had also relied on the judgment of the Hon'ble Supreme Court in Kranti Associates Pvt. Ltd. Anr. Vs. Sh. Masood Ahmed Khan Ors. reported in (2010) 9 SCC 496. MDD was also a case of cartelization. In another judgment dated 29.10.2013 in M/s. Excel Crop Care Limited vs. Competition Commission of India Ors. (Appeal No. 79 of 2012), we had relied on some observations made in Southern Pipeline Contractors Anr. vs. The Competition Commission. We had also referred to the guidelines by the European Union (EU) and Office of the Fair Trade (OFT). We had quoted the five EU guidelines, where it was provided that is appropriate for the Commission to refer to the value of the sales of goods or services to which the infringement related. We had also referred to the OFT guidelines to the same effect and we had commented upon the factor of a relevant turnover. Ultimately, we had held that where a particular concern is a multi-commodity company, the relevant turnover should be considered and not the total turnover. 57. We find that in this case, no such effort has been made by the CCI. This may be due to the reason that the question of penalty was not addressed by the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
