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Judgment
O R D E R
23.02.2024 Heard the Learned Counsel for the Petitioner / Appellant in I.A. No. 1279 of 2024 in Competition Appeal (AT) No. 90 of 2018.
According to the Petitioner / Appellant, the 1st Respondent / CCI through an order dated 18.07.2023 upon consideration of the Request Letter furnished by the Petitioner / Appellant in allowing the Appellant to deposit the reduced penalty sum through instalments, in accordance with Regulation 4(1) of the Penalty Recovery Regulations and also a direction was issued to the interest deposit to pay certain interest computed on the payment of the reduced penalty sum and on the payment of the instalment sum as set out in the 1st Respondent / CCI order, while the Appellant was awaiting the 1st Respondent’s consideration of the request letter, the Petitioner / Appellant duly deposited a proposed first instalment of the reduced penalty sum, as set out in the request letter.
The Petitioner / Appellant, on 04.08.2023 had filed a W.P. (C) No.10332 of 2023 assailing the 1st Respondent / CCI order passed by the 1st Respondent, only in so far as the 1st Respondent’s order in directing the Appellant to pay an interest on the payment of reduced penalty sum and to pay an interest on the payment of the instalment sums.
At this juncture, it is pointed out on behalf of the Petitioner / Appellant that the Hon’ble High Court of Delhi, through an order dated 07.08.2023, had directed the Petitioner / Appellant to continue to pay the instalments of the ‘reduced penalty sums’ with the interest component, subject to the outcome of the writ petition. Also, the Hon’ble High Court of Delhi had concluded the hearing on 25.01.2024 and that the judgment is reserved as on date in the said matter.
The clear cut stands of the Petitioner is that it had already deposited seven instalments with the 1st Respondent / CCI, having deposited the last instalment sums with the 1st Respondent / CCI on 08.01.2024 (vide copies of the endorsed challans received from PNB and duly submitted to the 1st Respondent / CCI has approved the instalment sums) for the deposit for 7 instalment amounts by the Appellant in accordance with Regulations 3(3) and 3(4) of the Penalty Recovery Regulations.
The Learned Counsel for the Petitioner / Appellant points out that the Appellant has not preferred any appeal before the Hon’ble Supreme Court of India against the judgments of this Tribunal dated 01.03.2023, including in regard to the payment of reduced penalty amount and the Petitioner / Appellant, in full compliance of the 1st Respondent / CCI’s order and in good faith is duly depositing the monthly instalment sums towards the payment of the ‘reduced penalty sum’.
Viewed in this background, a prayer is made by the Petitioner / Appellant in I.A. No. 1279 of 2024 in Competition Appeal (AT) No. 90 of 2018 to pass an order by this Tribunal in directing the release of the Fixed Deposit Amount as per the last renewed Fixed Deposit Receipt in the account bearing No.50300303185452 with HDFC Bank (Teen Haath Naka Branch) (Bank) in favour of ‘Registrar, National Company Law Appellate Tribunal-A/c Geep’.
Considering the fact that in all 8 instalments sums have been paid (although in the I.A. No.1279 of 2024, it was mentioned that 7, but 8 instalment payments were made after the filing of the I.A. No.1279 of 2024) aggregating in all to Rs. 1,10,39,105/- and for the balance sums of Rs.3,46,94,319/-payments to be made by the Petitioner / Appellant. At this stage, this Tribunal simpliciter without going into the merits of the matter nor delving deep into the same but quite in the fitness of things, on the basis of equity, fair play and good conscience directs the Registrar, National Company Law Appellate Tribunal, Principal Bench, New Delhi to release the Fixed Deposit (sums) in the accounts bearing No.50300303185452 with HDFC Bank (Teen Haath Naka Branch) (Bank) in favour of ‘Registrar, National Company Law Appellate Tribunal-A/c Geep’ as expeditiously as possible without any loss of time. Viewed, in that prospective the I.A. is allowed. No costs.