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CCI recovers just 0.74% of Rs 12,474 cr fines imposed by it

Press Trust of India  |  New Delhi 

The Competition Commission of India (CCI) has managed to recover a dismal 0.74 per cent of total fines of Rs 12,474 crore imposed by it on entities for various violations, Parliament was informed today.

Besides, vast majority of fines were stayed and dismissed by the antitrust regulator and courts.

In a written reply to the Lok Sabha, Corporate Affairs Minister Arun Jaitley said that CCI has imposed a penalty of Rs 12,474 crore on 351 companies in nearly four financial years, "out of which 92.48 crore has been realised."

Further, "penalty amounting to Rs 12,292.57 crore has been stayed and penalty of Rs 61.10 crore has been dismissed by the Competition Appellate Tribunal/Courts," he added.

The fines were imposed on the entities for indulging in anti-competitive practices.

CCI has the mandate to eliminate practices that have adverse impact on competition and protect the interests of consumers.

In 2014-15, the Commission received 107 cases and taken decision in 84 matters.

First Published: Fri, February 27 2015. 16:48 IST