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CCI's new penalty recovery regime replaces 14-yr-old rules
Mint Bangalore
|February 28, 2025
Individuals and enterprises breaching competition law face a stricter penalty recovery regime with the Competition Commission of India (CCI) replacing its 14-year-old regulation with a new set of norms.
As per the CCI (manner of recovery of monetary penalty) regulations, 2025, notified with effect from Thursday, 27 February, the rate of interest on penalty has been lowered to 1% simple interest for each month of default in paying the penalty, from 1.5% earlier.
However, as opposed to the earlier practice of issuing a demand notice after serving the adjudication order, from now on, the two will be issued at the same time, leading to levy of interest on unpaid penalty from an earlier date.
This story is from the February 28, 2025 edition of Mint Bangalore.
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