Stiff fines on the way for violation of competition law1 min read . Updated: 08 Feb 2023, 11:53 PM IST
The idea is to levy penalty as a percentage of the offending company’s global revenue or income, rather than the current practice of levying a part of the ‘local or relevant market’ revenue as penalty.
New Delhi: The central government is likely to introduce further changes to the Competition Amendment Bill 2022, which is pending in the Lok Sabha, to steeply increase penalties for anti-competitive practices, said a person informed about government discussions on the matter.
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