Regulation 14 - Refund of excess penalty - Competition Commission Of India (Manner Of Recovery Of Monetary Penalty) Regulations, 2025

14. Refund of excess penalty. (1) Where by any order of the National Company Law Appellate Tribunal or a High Court or the Supreme Court of India, as the case may be, it has been held that an enterprise or a person is not liable to pay any penalty or is liable to pay a penalty less than the amount mentioned in any order or notice of the Commission, the demand notice or the recovery certificate shall be withdrawn or modified, as the case may be, and the amount of any excess penalty, if paid, shall be refunded.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.