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Compat Reduces Penalty to Rs 2 cr in a Major Relief to State Insurers - (12 Dec 2016)

In a major relief to four state- run insurers namely National Insurance, New India Assurance, Oriental Insurance and United India Insurance Competition Appellate Tribunal has slashed the Rs 671 crore penalty imposed on them by CCI to a mere Rs 2 crore, saying the burden of fine will be transferred to public as these entities are owned by the Government.

Tags : COMPAT   PENALTY   STATE INSURERS  

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