Etihad slapped with Rs 1-cr penalty
CCI found the company in violation of Section 43 A of Companies Act
BS Reporter The Competition Commission of India (CCI) has slapped a penalty of Rs 1 crore on Etihad Airways for implementing a commercial cooperation agreement and concluding a sale & leaseback deal with Jet Airways for its London (Heathrow) slots without approval.
The penalty was levied under Section 43 (A) of the Competition Act. This required a notice to CCI regarding the Heathrow transaction and the commercial pact. They concluded the deal without waiting for approval. Etihad has to pay the penalty in two months.
 "Etihad slapped with Rs 1-cr penalty")
