The CCI has proposed the Competition Commission of India (Settlement) Regulations, 2023 (Settlement Regulations). The Settlement Regulations provide the procedure to be followed during settlement proceedings including the following:
- Form and contents of the application for settlement along with fee payable;
- Procedure of settlement proceedings;
- Period during which settlements may be proposed;
- Manner in which the CCI will invite objections and suggestions to the settlement terms;
- Factors to be considered by the CCI in assessing the settlement terms;
- Manner of determining the settlement amount;
- Nature and effect of the settlement order;
- Implementation and monitoring of the terms of the settlement order; and
- Revocation of the settlement order.
The CCI invites stakeholders to submit written comments on the draft Settlement Regulations within 21 (twenty-one) days from 24.08.2023 to 13.09.2023. The comments must be sent only by duly filling the form hosted on the CCI’s website at: https://cci.gov.in/stakeholders-topics-consultations.
