Regulation 11 - Revocation of the Settlement Order - CCI (Settlement) Regulations, 2024

11. Revocation of the Settlement Order. - (1) If a Settlement Applicant fails to comply with the order passed by the Commission under section 48A of the Act or it comes to the notice of the Commission that the Settlement Applicant has not made full and true disclosure during the settlement proceedings or there has been a material change in the facts, the order passed under section 48A of the Act shall stand revoked and withdrawn. Provided that before making an opinion in this regard, the Commission shall give an opportunity to the Settlement Applicant to show-cause, within a period of 15 working days from the date of receipt of the show-cause notice, as to why the Commission should not form an opinion that the Settlement Applicant has failed to comply with the order passed by the Commission under section 48A of the Act or the Settlement Applicant has failed to make full and true disclosure during the settlement proceedings or there has been a material change in the facts, as the case may be. (2) Where the settlement order stands revoked and withdrawn as per sub-regulation (1) above, the Settlement Applicant shall be liable to pay legal costs incurred by the Commission, as may be determined by the Commission, subject to a maximum of rupees one crore which shall be paid in terms of sub-regulation (2) of regulation 9 . (3) Such legal costs imposed upon a Settlement Applicant shall be recoverable in the same manner under section 39 of the Act read with the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011 , as has been prescribed for recovery of penalty imposed under the Act. (4) Further, where the settlement order stands revoked and withdrawn as per sub-regulation (1) above, the Commission may also restore or initiate against the Settlement Applicant, inquiry or investigation in respect of which the order under section 48A was passed.