The CCI fined Etihad 10 million rupees (USD 0.164 million) for implementing its acquisition of a stake in Jet Airways before obtaining the CCI's approval. Eithad had notified its acquisition to the CCI under the merger control provisions of the Competition Act, 2002. However, before obtaining approval, Etihad entered into a sale and lease back agreement pertaining to Jet Airways' slots at London Heathrow. The CCI considered that this agreement constituted an implementation of the notified transaction, in violation of the standstill obligation of the Act.
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