Supreme Court stays Gujarat government move to retrieve 108 hectares of land allotted to Adani Ports

The Supreme Court has stayed a Gujarat High Court order directing Adani Ports to deposit Rs. 500 crore in an escrow account pending an appeal by Adani Ports against the Competition Commission of India's (CCI) penalty. The CCI imposed the penalty for allegedly abusing its dominant market position. Adani Ports argued that the penalty would cause irreparable financial damage. The Supreme Court noted that the deposit would be stayed until further orders and scheduled the next hearing for two weeks later.