You are here: Home » Economy & Policy » News
Business Standard

Govt proposes amendments to competition law; seeks comments on the Bill

The draft bill to amend the Competition Act, 2002, has been made public more than six months after an expert panel suggested sweeping changes to the law

Competition Act | Competition Commission of India

Press Trust of India  |  New Delhi 

Illustration by Ajaya Mohanty
Illustration by Ajaya Mohanty

The government has proposed various amendments to competition law, including a provision for persons to seek settlement of ongoing cases.

The draft bill to amend the Competition Act, 2002, has been made public more than six months after an expert panel suggested sweeping changes to the law.

In the bill, prepared by the corporate affairs ministry, provision for settlement of cases has been proposed, among others.

In certain cases, a person can submit an application in writing to the (CCI) proposing settlement of the proceeding initiated for the alleged contraventions, as per the bill.

Such an application for settlement can be submitted at any time after the receipt of the Director General's (DG) report in the case concerned. However, it should be submitted before passing of an order by the CCI.

DG is the investigation arm of the regulator. Cases where there are prima-facie evidence of competition law violations are referred to the DG for a detailed probe.

Another proposal in the bill is to have a clause wherein a person can offer "commitments in respect of the alleged contraventions", subject to certain conditions.

In July 2019, Competition Law Review Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, submitted a report and recommended certain amendments to the and subordinate legislations.

After taking into consideration the recommendations of the panel, the ministry has prepared the Competition (Amendment) Bill, 2020. Comments from the public on the bill have been sought till March 6.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 21 2020. 19:08 IST