CCI Empowers Agencies to Ensure Compliance with Orders

The Competition Commission of India (CCI) now has the authority to appoint agencies to monitor compliance with its orders, following the notification of the amended regulations. The move aims to address concerns over non-compliance, ensuring fair competition. The update includes a 180-day timeline for final order issuance post interim order.

The Competition Commission of India (CCI) has been vested with new powers to appoint agencies responsible for monitoring the implementation of its orders, a move formalized with the notification of amended regulations on Tuesday.

This development follows increasing concerns from various entities about non-compliance with certain regulatory orders. The CCI, which is charged with maintaining fair competition in the marketplace, will now work alongside external agencies such as accounting firms, consultancy organizations, and professional auditors like chartered accountants, company secretaries, or cost accountants to ensure adherence to its directives.

The updated regulations, titled the Competition Commission of India (General) Regulations, 2024, also include provisions for the agencies to report any failures in implementation back to the CCI. This initiative comes on the heels of the comprehensive review and public consultations carried out by the regulator following amendments to the Competition Act in April 2023.

(With inputs from agencies.)