Company commitments to be closely watched

The Competition Commission of India (CCI) plans to closely monitor implementation of settlement and commitment offered by companies such as Big Tech entities in antitrust cases by engaging monitoring agencies to oversee such implementation.

- RUCHIKA CHITRAVANSHI

This is part of the draft regulations released by the competition regulator on Thursday to overhaul the regulatory framework of CCI introduced in 2009, to bring it up to speed with the latest changes in the Competition Act passed by the government in April 2023.

"Where the Commission is of the opinion that the implementation of its orders passed under Section 31 or Section 48A or Section 48B or any other provisions of the Act, and regulations made thereunder need monitoring, it may appoint agencies to oversee such implementation, on such terms and conditions as deemed fit by the Commission," the draft regulations say.

The sections mentioned by the CCI relate to mergers, commitment and settlement applications. Sources have said that the Commission has received good response to its settlement and commitment scheme. Companies can, without admission of guilt, opt for the settlement or commitment option and provide a full and true disclosure of facts in respect of the alleged contraventions of the Act.