Regulation 14 - Refund of excess penalty - CCI (Manner Of Recovery Of Monetary Penalty) Regulations, 2011

14. Refund of excess penalty. (1) Where by any order of the Competition Appellate Tribunal or the High Court or the Supreme Court of India, as the case may be, it has been held, that the enterprise is not liable to pay any penalty or liable to pay penalty less than the amount mentioned in any order or notice, the demand notice or the recovery certificate shall be withdrawn or modified and the amount of penalty, if paid, shall be refunded. (2) In case of a refund, the Secretary shall issue a refund order for such amount, under his signature and seal.