The Competition Commission of India (CCI) has notified three regulations viz. THE CCI (SETTLEMENT) REGULATIONS, 2024; THE CCI (COMMITMENT) REGULATIONS, 2024; THE CCI (DETERMINATION OF TURNOVER OR INCOME) REGULATIONS, 2024 and THE CCI (DETERMINATION OF MONETARY PENALTY) GUIDELINES, 2024 on 06.03.2024.
The intent of creating a procedure for Settlement and Commitment is driven by the need to reduce litigation and ensure quicker market correction. The two mechanisms differ in terms of the stage of the inquiry process at which the application for Settlement or Commitment is filed.
The CCI has followed a detailed public consultation process and based on the comments/suggestions received from the stakeholders, appropriate changes have been incorporated in the regulations.
