The Competition Commission of India (“CCI” or “Commission”) has notified the Settlement Regulations which are effective as of March 6, 2024. The key highlights of these Settlement Regulations are:
- Enterprises, facing inquiries for alleged violations of Section 3 or Section 4 of the Competition Act, 2002 (“Act”), have the right to make anapplication to the Commission for settling such inquiries.
- The application for settlement must be filed within 45 days from the date of receipt of report of the Director General in relation to the alleged violation. The initial inquiry stands suspended until a decision in relation to the application for settlement is reached. Withdrawal of the application is permissible at any point before the Commission issues a final order.
- No provision has been incorporated for enabling the applicant to file an appeal against the Commission's decision on the application.
- Interim directions (during the pendency of the settlement application) can be issued solely to safeguard consumer interests and uphold marketcompetition.
- The settlement amount can be up to the limit prescribed under Section27(b) of the Act (i.e., imposing penalty upon each person or enterprisewhich has abused its dominant position), with a 15% settlement discountapplied.
- Previous contraventions of the applicant are taken into consideration by the Commission prior to making its determination.
Originally published by 08 May, 2024
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