PIB - Transparent Guidelines by CCI

Competition Commission of India is a statutory body constituted under the Competition Act, 2002. Government discharges such role as is assigned to it under the said Act. Power to levy penalty is vested in the Commission under Section 27(b) of the Act. This section authorizes the Commission to levy penalty of upto 10% of the average turnover of the last three preceding years for abuse of dominant position and anti-competitive agreements. Section 46, however, authorizes the Commission to impose lesser penalty. To effectuate the power of Section 46, the commission has framed Competition Commission of India (Lesser Penalty) Regulations, 2009 to serve as guidelines in the matter.

This was stated by Minister of Corporate Affairs, Shri Arun Jaitley in a written reply to a question in Lok Sabha today.

Source: Press Information Bureau.