Regulation 54 - Implementation and monitoring of orders passed by the Commission - CCI (General) Regulations, 2024

54. Implementation and monitoring of orders passed by the Commission. (1) 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, needs monitoring, it may appoint agencies to oversee such implementation, on such terms and conditions as deemed fit by the Commission. (2) The agencies appointed under sub-regulation (1) shall be independent of the parties to the proceedings in the matter, and shall confirm that they do not have any conflict of interest with the said parties. (3) Such agencies referred to in this regulation may include an accounting firm, management consultancy, any other professional organisation or chartered accountants/ company secretaries/ cost accountants. (4) The agencies appointed under sub-regulation (1) shall carry out the responsibilities as specified by the Commission from time to time, inter alia, including: (a) monitoring the implementation of the orders of the Commission in accordance with its terms of engagement; (b) informing the Commission of any non-implementation or non-compliance of such orders; (c) adequately disclosing any direct or indirect pecuniary or non-pecuniary interest that is likely to prejudice performance of its duties under the terms of its engagement; (d) submit reports related to monitoring of the implementation of the orders of the Commission, at such periodic intervals as directed by the Commission; (e) maintaining highest standards of confidentiality in respect of information received or collected during the discharge of its obligations; and (f) performing such other duties as stipulated under the terms of its engagement or directed by the Commission. (5) The Commission may, suspend or terminate the engagement of agencies appointed under sub-regulation (1) in such manner as may be determined by terms of its engagement: Provided that notwithstanding anything contained in the terms of engagement, the Commission may, if it deems necessary, revoke the engagement, for reasons to be recorded in writing and such revocation shall not be questioned in any court of law or otherwise. (6) The payment to the agencies appointed under sub-regulation (1) shall be made by the person who has filed an application under regulation 3 of the Competition Commission of India (Settlement) Regulations, 2024 or regulation 3 of the Competition Commission of India (Commitment) Regulations, 2024 or who has filed a notice under regulation 9 of the Competition Commission of India (Combinations) Regulations, 2024 or in any other case, by any other person as directed by the Commission, as the case may be, by depositing it with the Commission or as may be directed by the Commission, subject to satisfactory discharge of responsibilities by the agencies.