CCI Overhauls Penalty Recovery Process for Greater Efficiency

The Competition Commission of India (CCI) is proposing amendments to improve the penalty recovery process under the Competition Act, 2002. These changes aim to enhance procedural clarity and efficiency, focusing on timely payment and issuing demand notices, as well as addressing issues in regulatory compliance and recovery procedures.

The Competition Commission of India (CCI) has unveiled proposed amendments to revamp its penalty recovery process under the Competition Act, 2002. Inviting public feedback until December 6, these changes focus on enhancing procedural clarity and regulatory efficiency.

Past experiences have highlighted challenges within the existing framework, prompting a re-evaluation of the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011. Key proposed changes include improved procedures for demand notices, recovery certificates, and mechanisms to ensure timely payments.

The Secretary of the CCI will issue demand notices to penalized firms and individuals under new guidelines, with specific timeframes for payments. To prevent procedural inefficiencies, the commission may amend clerical or arithmetic errors in these notices.

(With inputs from agencies.)