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Business News/ Companies / CCI seeks comments on amendments to lesser penalty rules
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CCI seeks comments on amendments to lesser penalty rules

The amendments to the lesser penalty rules include provisions to enable identifying individuals of the firm involved in the cartel on whose behalf the reduced penalty is being sought

The CCI said that the amendments were being proposed to enable greater clarity for stakeholders. Photo: MintPremium
The CCI said that the amendments were being proposed to enable greater clarity for stakeholders. Photo: Mint

New Delhi: The Competition Commission of India (CCI) has sought public comments on its amendments to the lesser penalty regulations.

A notice to the effect was posted on the CCI website on Wednesday.

The Economic Times cited CCI secretary Smita Jhingran on 20 March saying that the antitrust regulator was in the process of reviewing these rules and would shortly release the same for a public consultation.

These lesser penalty regulations relate to the so-called leniency petitions filed before the CCI by firms who make full and vital disclosure regarding cartels they are involved in. The provisions of the Competition Act empower the CCI to impose a lesser penalty on these firms.

The CCI said that the amendments were being proposed to enable greater clarity for stakeholders. The comments from stakeholders and the public have to be sent by 10 April to the CCI.

The amendments, which were uploaded on the CCI website, include provisions to enable identifying individuals of the firm involved in the cartel on whose behalf the reduced penalty is being sought.

The first order on a leniency petition was passed in January this year in a case on bid rigging by three electrical firms for a Railways tender.

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Published: 22 Mar 2017, 09:26 PM IST
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