CCI proposes changes in confidentiality ring system to speed up proceedings

Anti-trust regulator says proposed amendments will help parties in their defence arguments

The Competition Commission of India (CCI) has proposed changes in its so-called Confidentiality Ring regime to enable persons appointed by the parties in a case get access to information and documents.

The Confidentiality Ring concept was introduced in April 2022 to enable parties involved in a case to gain access to the confidential information of other parties and defend themselves effectively.

The proposed changes aim to streamline the processes and enable timely disposal. Parties seeking confidentiality for their information, or seeking to establish a ring to access information of other parties, are required to submit undertakings on affidavit. The earlier process was self-certification without an affidavit. The CCI has also prescribed systematic and chronological timelines for accessing documents through the Confidentiality Ring.

“The requirement of submitting undertakings on affidavits clubbed with the strict prescribed timeline for its submission will be onerous on parties, especially in cases involving foreign nationals as consularisation/apostilisation of documents in foreign jurisdictions are time-consuming, which may conflict with the prescribed CCI timelines,” said Vaibhav Choukse, partner, JSA Advocates & Solicitors.

CCI has proposed that a party seeking confidentiality over information or a document furnished by it shall set out reasons for such treatment. The party shall self-certify that making the information public will result in the disclosure of trade secrets or destruction or appreciable diminution of the commercial value of any information or can be reasonably expected to cause serious injury.

The party also has to confirm, along with the date on which such confidential treatment shall expire, that the information is not available in the public domain and is known only to limited employees, suppliers, distributors, and others involved in the party’s business.

The CCI has invited stakeholders' comments on the proposed amendments till March 27, 2024. It proposed a revision in the fees for carrying out inspection, taking into charges were fixed in 2009.