Competition Commission proposes changes to leniency provisions

Anti-trust regulator CCI plans to amend provisions related to leniency provisions under the competition law.

The changes are being proposed to ensure more "clarity" to the stakeholders, the Competition Commission of India (CCI) said as it put up the draft norms for public comments.

Currently, an entity can seek lesser penalty in cases related to cartelisation provided the entity is not part of the particular cartel anymore.

Among others, such entities are required to provide vital disclosure with respect to cartelisation in order to be eligible for leniency.

Now, the regulator has proposed certain changes in the leniency regulations.

The CCI plans to include the provision that an entity seeking leniency has to provide "the names of individuals, if any, who have been involved in the alleged cartel on its behalf and for whom lesser penalty is sought".

Another change proposed is that the applicant might have to forfeit its claim for priority status and consequently for the benefit of grant of lesser penalty in case the required documents are not submitted to the CCI within stipulated time.

As per the draft, the identity of the applicant will be kept confidential subject to certain conditions.

The CCI (Lesser Penalty) Regulations, 2009, are proposed to be amended and the deadline for stakeholders to submit their comments is April 10.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)