The National Company Law Appellate Tribunal (NCLAT) on 5 May 2026 set aside the Competition Commission of India’s order dated 16 March 2020 imposing a penalty of INR 301.61 crore on Grasim Industries Limited in relation to its Viscose Staple Fibre (VSF) business and remanded the case to the CCI for a fresh hearing and consideration.
“On 5th May 2026, the NCLAT has set aside the Order dated 16th March 2020, and remanded the matter back to the CCI for fresh hearing and consideration. Consequently, the penalty of INR 301.61 crore and certain behavioural directions imposed earlier on the Company have been set aside,” the company disclosed in an exchange filing.
The CCI had originally passed the penalty order against the company under the Competition Act, 2002.
Grasim had filed an appeal before NCLAT and obtained a stay on the penalty, and had not created any provision in its books of account in relation to the matter.
“The Company had not created any provision in the books of account on account of this matter,” the company noted.
The case now returns to the CCI for reconsideration, potentially opening a fresh window for the company to challenge the competition law allegations in the VSF business segment.
The company made this disclosure before the exchange under regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”).
