Page 2 - Competition Law

CCI becomes member of International Competition Network's steering group

Competition Commission of India (CCI) on Wednesday said it has become a member of the steering group of the International Competition Network (ICN). The ICN comprises 140 competition agencies from 130 countries. "CCI joins the prestigious Steering group of International Competition Network (ICN) as a member at the ICN Annual Conference 2023 at Barcelona, Spain after consistent efforts. "ICN consists of 140 competition agencies and is guided by its apex body -- Steering Group of 18 members," according to a post by CCI on social media platform X. An official said this is the first time that the CCI has become a member of the ICN's steering group and the membership is for two years. The ICN provides competition authorities with a specialised yet informal venue for maintaining regular contacts and addressing practical competition concerns, according to its website.

CCI seeks inputs on draft to offer incentives to cos for info on cartels

Competition Commission has sought stakeholders' comments on draft leniency plus regulations that will offer incentives to companies already under probe for cartelisation for providing information about other cartels. As incentives, the entity giving information could get an additional reduction in monetary fine could be as much as 30 per cent with regard to the first cartel besides a reduction in penalty of up to 100 per cent in respect of newly disclosed cartels. The framework is designed to create an additional incentive for companies to cooperate with antitrust authorities in identifying and addressing cartel activities, ultimately promoting fair competition. The Competition (Amendment) Act, 2023 has introduced 'lesser penalty plus' and withdrawal of 'lesser penalty'/'lesser penalty plus' applications in the existing framework, to incentivise an existing LP applicant in respect of the first cartel to give full, true and vital disclosures about a second cartel unknown to the ...

Striking right balance for sustainability, competition crucial: NCLAT chair

He was delivering the keynote address at the eighth BRICS International Competition Conference 2023 in Delhi

Amazon punishes seller for 5 cent price cut on competitor's site: FTC Case

Amazon has vowed to challenge the FTC lawsuit in court, adding that it "radically" departs from the agency's mission of protecting consumers

Pernod Ricard faces India antitrust probe for boosting market share

The Competition Commission of India (CCI) has been pursuing the matter actively since early this year after senior members reviewed the case filed by Pernod's Indian rival, Radico Khaitan

Competition Comm issues draft regulations for settlement provisions

Fair trade regulator CCI on Wednesday issued the draft regulations for commitment and settlement provisions under the competition law. The provisions, introduced in the Competition Act through the amendments made earlier this year, are aimed at ensuring quicker market correction, according to the Competition Commission of India (CCI). Stakeholders can submit their comments on the draft regulations from August 24 to September 13, according to communications issued by the regulator. A commitment application should be filed within 45 days from the receipt of CCI order on investigation. In the case of a settlement application, the same has to be filed within 45 days f receiving the Director General's report. For both, commitment and settlement applications, the 45-day period could be extended if CCI is satisfied that there is a sufficient cause for extension. "The settlement amount may extend up to the maximum amount of penalty that would have otherwise been leviable under section 27

Digital Competition Law Committee finalising report as last date nears

Panel may get third extension if report not ready in next two days

Letter to govt seeks open consultation on digital competition law

A parliamentary committee's report last year underlined the need for ex-ante regulations - cautionary rules based on anticipated changes - for big tech companies

Basis for penalty in competition law

The sanction for triggering market failure must be based on the entire turnover

A competition law that clicks for all

Different laws for rapidly changing technology-enabled markets are neither feasible nor warranted

Notifying changes in competition law may face CCI quorum challenge

Regulator yet to appoint a full-time chairperson, leaving the three-member quorum short of one person

Competition law amendment bill gets President Droupadi Murmu's assent

President Droupadi Murmu has given assent to the bill to amend the competition law and the changes seek to ensure regulatory certainty and foster a trust-based business environment. The bill to amend the Competition Act was cleared by Parliament on April 3, nearly eight months after its introduction in Lok Sabha, which gave its nod on March 29. The bill was also referred to the Parliamentary Standing Committee on Finance, which tabled its report in Parliament on December 13 last year. Rajya Sabha approved the bill on April 3. Both Houses passed the legislation without any discussion. "Hon'ble President of India has given assent to the Competition (Amendment) Act, 2023, an act further to amend the Competition Act, 2002," CCI said in a tweet on Wednesday. Separately, in a series of tweets, Competition Commission of India (CCI) Acting Chairperson Sangeeta Verma said the updated legislation ensures regulatory certainty and fosters a trust-based business environment. "The updated law .

Parliament clears amendments to competition law without any discussion

Parliament on Monday cleared the amendments to the competition law that will pave the way for promoting the ease of doing business as well as enhance the framework to deter entities from indulging in unfair business practices. Reduction of CCI's assessment time frame for combinations to 150 days from the date of filing the notice, introduction of a settlement and commitments framework and imposition of penalties on erring entities based on their global turnover are among the key features of the Competition (Amendment) Bill. The bill has been approved by Parliament nearly eight months after its introduction in Lok Sabha, which gave its nod on March 29. The bill was also referred to the Parliamentary Standing Committee on Finance, which tabled its report in Parliament on December 13 last year. Rajya Sabha approved the bill on Monday after Lok Sabha cleared the same on March 29. Amid din, both the Houses passed the bill without any discussion. Corporate Affairs and Finance Minister ...

Competition Bill Amendments passed in Rajya Sabha without discussion

Rajya Sabha proceedings were adjourned for the day on Monday after passing the Competition (Amendment) Bill, 2023 without discussion amid uproar by opposition members over the Adani issue. Soon after the Upper House reassembled at 2 pm, Chairman Jagdeep Dhankhar greeted the members on the occasion of Rajya Sabha Day and urged them to participate in discussion, dialogue and deliberations instead of indulging in disruptions. Finance Minister Nirmala Sitharaman then moved the the Competition (Amendment) Bill, 2023 for consideration and passage amid slogan-shouting by Opposition members. Dhankhar put the Bill to voice vote even as the Opposition members continued slogan shouting and passed it before adjourning the House for the day. The House will now meet on Wednesday. The bill, which was passed on March 29 by Lok Sabha, provides for the Competition Commission of India (CCI) to impose penalties on entities based on their global turnover instead of the current practice of considering

Digital competition Bill based on standing committee report: Sinha

The parliamentary panel on finance, chaired by Sinha, presented a report in December identifying 10 anti-competitive practices in digital markets and a need for ex-ante regulations to address them

Govt panel concludes stakeholder discussion on digital competition law

Govt panel concludes stakeholder discussion on digital competition law

Competition Commission of India squeezed by staff vacancies and workload

The Competition Commission of India, which has imposed million dollar penalties on Alphabet Inc.'s Google to Amazon.com Inc., is functioning with just two members

Free markets may not create competition on their own: CEA Nageswaran

'Morality, ethics should undergird free-market economy'

Compensation likely in settlement cases in revised Competition Bill

Legislation likely to be introduced in ongoing Budget session of parliament

Competition Bill may propose levying penalty on firms' global turnover

The suggestion to allow cartels to opt for the settlement scheme is also likely to be introduced in the Bill