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Competition Act: Govt to introduce a 'commitment and settlement' clause

The amendment will be made to regulate acquisitions by digital firms that don't have large assets in India, such as Facebook and escape CCI scrutiny

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The Centre will introduce a ‘commitment and settlement’ clause in the Competition Act. This is likely to be amended in the upcoming winter session of Parliament.  The enabling clause will allow those found in contravention of the competition law to ‘commit’ to correct its ways to avoid further action even before the investigation is completed, Competition Commission of India (CCI) Chairperson Ashok Kumar Gupta told Business Standard.  Even in cases where the investigation is over, evidence has been found, and the adjudicating process has ...