Business Daily from THE HINDU group of publications
Friday, May 22, 2009
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Business Daily from THE HINDU group of publications Friday, May 22, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Marketing
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Regulatory Bodies & Rulings Competition Commission to soon notify regulations Our Bureau New Delhi, May 21 A day after the Centre notified provisions pertaining to anti-competitive agreements and abuse of dominant position, Competition Commission of India is in the process of notifying various regulations. The regulations, once notified, would lay down the procedure and modalities for filing of complaints with CCI. The regulations (general regulations and those pertaining to meetings for transaction of business) are expected to be notified on Friday, officials said. “The regulation will outline the format for filing of complaints. It details the procedure for inquiry, issue of directions to cause investigation on prima facie case, and procedure for imposition of penalty under the Act,” sources said. Last evening, the Government notified the provisions of the Competition Act, 2002 relating to anti-competitive agreements (Section 3) and abuse of dominant position (Section 4) alongwith other related and miscellaneous provisions. The move enabled the Competition Commission of India to enforce the provisions under the Competition Act, 2002. The Government has also notified the establishment of Competition Appellate Tribunal which will be headed by Dr Justice Arijit Pasayat, Judge (Retd.), Supreme Court of India. The Appellate Tribunal will deal with the appeals against the decisions of the Competition Commission of India and also adjudicate on compensation claims. More Stories on : Regulatory Bodies & Rulings
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