Settlement rules will help: CCI

Groundbreaking amendment could facilitate early market correction, cut litigation: chairperson Ravneet Kaur

- Gireesh Chandra Prasad

The Competition Commission of India (CCI) will consult the public on its proposed scheme for negotiating settlements with businesses charged with anti-competitive conduct, chairperson Ravneet Kaur said, adding the transparent norms to be set will give them confidence in opting for this groundbreaking provision to reduce litigation.

Kaur, who was appointed to her post in May, said that rolling out the commitment and settlement processes and the so-called leniency plus regime outlined in this year’s Competition Amendment Act, 2023, will significantly aid the ease of doing business in the country.

Businesses and other parties can apply for settlements before the regulator issues its final order after an investigation, while commitments to address regulatory concerns around anti-competitive behaviour has to be made prior to the final order. The leniency plus scheme expands on an existing scheme and is expected to encourage more players to come clean on cartelizing behaviour.