Asian Paints : Litigations/Disputes/Regulatory actions
September 08, 2022 at 03:50 pm EDT
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APL/SEC/31/2022-23/16
8th September, 2022
BSE Limited
National Stock Exchange of India Limited
Corporate Relationship Department
Exchange Plaza, Plot No. C/1,
Phiroze Jeejeebhoy Towers,
Block G, Bandra - Kurla Complex,
25th Floor, Dalal Street,
Bandra (East),
Fort, Mumbai - 400 001
Mumbai - 400 051
Scrip Code: 500820
Symbol: ASIANPAINT
Sir/Madam,
Sub: Intimation pursuant to Regulation 30 of the SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015
This is with reference to our earlier letter no. APL/SEC/15/569 dated 15th January, 2020 wherein the Company had informed that the Hon'ble Competition Commission of India (Commission) had passed a prima facie Order dated 14th January, 2020 directing the Director General to cause investigation against the Company, under the provisions of Section 26(1) of the Competition Act, 2002 (Act), basis information received from JSW Paints Private Limited.
We wish to inform the following:
The Director General, pursuant to the directions of the Hon'ble Commission, investigated the matter and had submitted its Investigation Report;
The Hon'ble Commission heard both the parties at length on the Investigation Report and passed its Order dated 8th September, 2022;
In pursuance to the said Order, the Hon'ble Commission has noted that no case of contravention of provisions of Section 4 and Section 3(4) read with Section 3(1) of the Act is made out in the present case.
The Order of the Hon'ble Commission is available at https://www.cci.gov.in/antitrust/orders/details/1050/0.
Asian Paints Limited published this content on 08 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2022 19:49:02 UTC.
Asian Paints is the Indian No. 1 and world's No. 3 in manufacturing and marketing paints and surfaces coating products. Net sales by product family and services as follows:
- paints and surfaces coating products (98.9%): decorative and industrial paints, enameling products, wood varnishes and car paints under Apex, Ace, Roÿale, Utsav, Tractor, Premium, Berger, Scib, Apco and Taubmans brands;
- home improvement services (1.1%).