CCI slaps Rs 8,013-cr penalties

The Competition Commission of India has imposed total penalties of Rs 8,013 crore in 19 cases related to anti-competitive practices till date, the government said on Thursday.

In all, the CCI disposed of 254 cases, of the total 338 cases it has taken up so far.

"The commission has taken up 338 cases till date, out of which 254 cases have been disposed of," Corporate Affairs Minister Sachin Pilot informed the Lok Sabha in a written reply.

"Cease and desist orders have been passed in 28 cases and in 19 cases, total penalties of Rs 8,013.08 crore have been imposed along with cease and desist orders," he added.

Pilot said the regulator has been set up to prevent adverse effect on competition in the country's markets, promote and sustain competition, protect the interests of consumers and to ensure freedom of trade.

"CCI enquires into information/complaints alleging appreciable adverse effect on competition and abuse of dominant position in specific agreements," Pilot said.

Further, the proposals of mergers and acquisitions of enterprises "require to be notified to CCI for obtaining its approvals".