Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

Competition Commission of India (General) Regulations, 2024.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the Act; (e) Counsel means a legal practitioner or a chartered accountant or a company secretary or a cost accountant as defined in the explanation to section 35 of the Act; (f) Director General means the Director General appointed under sub-section (1) of section 16 of the Act and includes any Additional, Joint, Deputy or Assistant Directors General appointed under that section; (g) Electronic Form shall have the same meaning as assigned to it under section 2(1)(r) of the Information Technology Act, 2000; (h) Expert means an expert engaged to assist the Commission under sub-section (3) of section 17 of the Act or an expert called upon by any party to provide opinion in connection with any matter related to a case under sub-section (2) of section 35 of the Act or an expert called upon to assist the Commission in any inquiry or proceeding under sub-section (3) of section 36 of the Act; (i) Interlocutory Application means an application filed before the Commission during pendency of, a case instituted under section 19 of the Act or proceedings initiated pursuant to a Miscellaneous Application, except submissions made in compliance of any order or direction of the Commission; (j) M .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n Hindi. Notwithstanding anything contained in these regulations, the parties may file documents drawn up in Hindi, if they so desire: Provided that no information, reference or other papers contained in any language other than English shall be accepted by the Commission unless the same is accompanied by a true translation thereof in English as stipulated in regulation 7. 7. Translation of documents. A document translated in English shall be accepted by the Commission as true translation if: (a) the counsel for the party certifies the translation to be a true translation; or (b) the translation is done by an official translator of any Court; or (c) the translation is done by an official translator of any authority/ body, central or state government, which is also accepted by the Courts as true translation: Provided that a translation, which is agreed to by all the parties to the proceedings, may also be accepted by the Commission, in appropriate cases, as a true translation. 8. Holidays to be observed by the Commission. (1) The head office of the Commission shall observe, besides Saturday and Sunday, holidays as declared by the Central Government at Delhi under the Negotiable Instr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... and parties before any court, tribunal, statutory authority or arbitrator in respect of the subject matter of information; and (h) such other particulars as may be required by the Commission. (3) If the information or reference referred to in sub-regulation (1) is filed after three years from the date on which the cause of action had arisen, it shall be accompanied with an interlocutory application seeking condonation of delay demonstrating sufficient cause for the delay, together with applicable fee in terms of sub-regulation (2) of regulation 50 of these regulations. (4) The contents of the information or the reference mentioned under sub-regulations (1) and (2), along with the appendices and attachments thereto, as well as application under sub-regulation (3), shall be complete and duly supported with an affidavit of the person submitting it duly verifying the contents of the same. 11. Signing of information or reference. (1) An information or a reference or a reply to a notice or direction issued by the Commission shall be signed by (a) the individual himself or herself, including a sole proprietor of a proprietorship firm; (b) the Karta in the case of a Hindu Undivided Family .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... as the case may be. 13. Procedure for filing of information or reference in electronic form. Subject to the provisions of regulations 10 and 11, information or a reference to the Commission may be sent by a person or an enterprise to the Secretary in an electronic form duly authenticated with digital signature and/ or electronic signature by the subscriber as and when so desired by the Commission through a public notice. Explanation For the purpose of this regulation, (a) digital signature means the digital signature as defined under clause (p) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000); (b) electronic form with reference to an information or a document means the electronic form as defined under clause (r) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000); (c) electronic signature means electronic signature as defined under clause (ta) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000); (d) subscriber means the subscriber as defined under clause (zg) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000). 14. Filing of further submissions. The .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... al of the Commission. The official seal of the Commission shall not be affixed to any document including the certified copies of the orders of the Commission, save and under the authority in writing of the Secretary. (7) Subject to sub-regulation (1), to ensure a timely and efficient disposal of the matters brought before the Commission and for achieving the objectives of the Act, the Secretary shall have the following powers and functions, (a) to receive, endorse and categorize all the information, references, applications or documents; (b) to check the amount of fee received where applicable and to ensure the timely deposit of the same in the bank account of the Commission; (c) to scrutinize all information, references, applications or documents so received to find out whether they are in conformity with the rules and regulations; (d) to point out defects in such information(s), references, applications or documents to the parties requiring them to rectify such defects; (e) to serve copy of the information, reference, application or document along with the enclosures to the concerned parties including the Director General, within a reasonable time; (f) to serve the notice of the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... complaint before the Chief Metropolitan Magistrate, Delhi for non-compliance with the orders or directions of the Commission under sub-section (3) of section 42 of the Act, if so directed by the Commission. 16. Procedure for scrutiny of information or reference. (1) Each information or reference received in the Commission shall be scrutinized by the Secretary to check whether it conforms to these regulations and the defects, if any, shall be communicated to the party within a reasonable time not exceeding, (a) 15 (fifteen) days in case of an information or reference received under clause (b) of sub-section (1) of section 19 of the Act; or (b) 7 (seven) days in case of a reference received under section 21 or sub-section (1) of section 49 of the Act. (2) The information provider referred to in clause (a) of sub-section (1) of section 19 of the Act or the Central Government or the State Government or the statutory authority referred under clause (b) of sub-section (1) of section 19 or in sub-section (1) of section 49 of the Act, as the case may be, shall, on receipt of the communication about the defects under sub-regulation (1), remove the defects within: - (a) 30 (thirty) days of r .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... , hold its first ordinary meeting to consider whether prima facie case exists, within 15 (fifteen) days of the date of placement of the matter by the Secretary under sub- regulation (1). 18. Preliminary conference. (1) The Commission may, if it deems necessary, call for a preliminary conference to form an opinion whether a prima facie case exists. (2) The Commission may invite the information provider and such other person as is necessary for the preliminary conference. (3) A preliminary conference need not follow formal rules of procedure. 19. Issue of direction to cause investigation on prima facie case. (1) Where the Commission is of the opinion that a prima facie case exists, the Secretary shall convey the directions of the Commission within 7 (seven) days to the Director General to investigate the matter. (2) A direction of investigation to the Director General shall be deemed to be the commencement of an inquiry under section 26 of the Act. (3) Where the Commission has formed an opinion that a prima facie case of contravention of the provisions of sub-section (4) of section 3 of the Act or section 4 of the Act exists, the Secretary shall also convey the directions of the Comm .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t when considered necessary, the Director General may, for maintaining confidentiality, submit his report and case record in two parts. One of the parts shall contain the documents to which access to the parties may be accorded and another part shall contain confidential information and documents to which access may be partially or totally restricted. (5) Five copies of the report of the Director General, along with an electronic copy in pdf format, shall be forwarded to the Secretary within the time specified by the Commission: Provided that the Secretary may ask for more copies of the report as and when required. (6) If the Commission, on consideration of the report, is of the opinion that further investigation is called for, it may direct the Director General to make further investigation and submit a supplementary report on specific issues within such time as may be specified by the Commission but ordinarily not later than 60 (sixty) days. 22. Procedure for inquiry under section 26 of the Act. (1) Upon receipt of the investigation report from the Director General in terms of sub-section (3) of section 26 of the Act, the Secretary shall place the same for consideration of the Co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ary to forward a physical or electronic copy of the non-confidential version of the report to the Central Government or the State Government or the Statutory Authority or the parties concerned, as the case may be, for filing objections or suggestions, if any, thereto, within a period of 08 (eight) weeks from the receipt of the report; or (ii) cause further inquiry to be made or itself proceed with further inquiry in the matter, as the Commission deems fit. (7) Upon receipt of objections or suggestions under sub-regulation (6) from the Central Government or the State Government or the Statutory Authority or the parties concerned, as the case may be, on the supplementary investigation report, the Commission may either: (i) pass a final order closing the matter under sub-section (9) of section 26 of the Act or pass an order under section 27 of the Act; or (ii) cause further inquiry to be made or itself proceed with further inquiry in the matter in terms of sub- sections (7) or (8) of section 26 of the Act. (8) Upon completion of further inquiry in terms of sub-sections (7) or (8) of section 26 of the Act, the Commission may pass a final order closing the matter under sub-section (9) o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he same in the records of the Commission from time to time, as and when necessary, else the service made at the address or the electronic mail address available on record shall be sufficient. (2) An endorsement made by a postal or courier employee that the addressee or his agent has refused to take delivery of the notice shall be deemed to be proof of service by way of refusal. (3) An electronic mail shall be deemed to be delivered if properly addressed or directed to the recipient, in a form capable of being read by the other parties system, when it is out of the control of the sender and enters the information processing system of the recipient for receiving such messages, whether or not opened or seen by the recipient. (4) In case the postal or courier employee reports that the addressee has since left or is not available at the given address, the Commission relying on the information so furnished, may take a view as it may deem appropriate and may proceed to take steps for substituted service. (5) Where summons or notice was properly addressed, prepaid and duly sent by registered post acknowledgement due, and the acknowledgement having been lost or mislaid or for any other reas .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e act or transaction or series of acts or transactions is alleged to exist in such applicants, whether jointly, severally or in the alternative; (b) the applicants can show, to the satisfaction of the Commission, that common question of law or fact would arise; and (c) the Commission is satisfied that participation of such person or enterprise, as the case may be, is necessary for the determination of the issues before it. (2) If in any proceedings it becomes necessary to substitute a person or enterprise for an existing party, the Commission, may make an order of such substitution. (3) On an application made, by a party admitted to the proceedings under sub-regulation (1) or sub-regulation (2), in terms of regulation 38 of these regulations, the Secretary shall furnish to it, certified copies of the documents sought, within 10 (ten) days. (4) No order under sub-regulation (1) or sub-regulation (2) shall affect any prior steps taken in the proceedings. 26. Power of Commission to permit a person or enterprise to take part in proceedings. (1) While considering a matter in an ordinary meeting, the Commission, on an application made to it in writing, if satisfied, that a person or ente .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... stantially similar, may request the Commission to consolidate such similar information or references, as the case may be, for common investigation. (3) Where the Commission consolidates two or more information or references or applications, in accordance with sub-regulation (1) and sub-regulation (2), (a) each such information or references, as the case may be, shall continue to be separately identified by its own docket number; (b) pending consolidation of information or references by the Commission, the Director General may continue to investigate the matters. 29. Amendment of information. The Commission may permit amendment of any information, upon an application made in this regard but such amendment shall not be allowed if it substantially changes the nature and scope of the information. 30. Manner of making submissions or arguments by parties before Commission. (1) Without prejudice to sub-section (1) of section 36 of the Act, the parties to the proceedings or their authorized representatives, as the case may be, shall declare to the Commission at the earliest opportunity whether they would make oral submissions or file written arguments during the course of an inquiry under .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Commission shall be signed and dated by the Members including a dissenting note by the dissenting Member, if that be the case. (2) Every order or decision of the Commission shall, as far as practicable, be made within 21 (twenty-one) working days from the date of conclusion of final arguments. (3) A copy of the order duly certified by the Secretary or such other officer authorized by the Secretary shall be served on the parties to the proceeding as provided in regulation 23 within 4 (four) weeks of the date of the order. 34. Reference from statutory authority or the Central Government or a State Government. (1) A reference from statutory authority under section 21 of the Act or the Central Government or State Government under section 49 of the Act for opinion made to the Commission shall contain such particulars as may be specified by the Commission. (2) Without prejudice to sub-regulation (1), a reference from statutory authority under section 21 of the Act, shall contain: - (a) the specific proposition of law or fact or specific issue or policy or any other matter relating to competition on which the opinion is solicited; (b) background and historical data relevant for the deter .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . (1) A reference from the Commission to any statutory authority for opinion under section 21A of the Act shall contain, (a) the specific proposition of law or fact or specific issue relating to competition on which the opinion is solicited; (b) background and historical data relevant for the determination of the proposition or the issue; (c) duly authenticated copies of the Act, the relevant rules and regulations framed thereunder, the notifications and the orders, if any, passed by the Commission in the pending matter as considered necessary; (d) duly authenticated and updated list of the parties with their complete addresses, telephone numbers, fax numbers, e-mail addresses etc.; (e) proof of the Secretary having informed the parties concerned about the matter having been referred to the statutory authority for opinion under section 21A of the Act; (f) the Secretary shall certify that the reference being forwarded is in conformity with clauses (a) to (e): Provided that in case the reference is being made by the Commission suo motu, the same may be exempt from application of the provisions contained in clauses (d) and (e) above. (2) Where the statutory authority seeks additional .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ng shall be liable to be proceeded against, as per the provisions of the Act. (3) The party claiming confidentiality shall file a complete version of such information or document(s) with the words restriction of publication claimed in red ink on top of the first page, the word confidential clearly and legibly marked in red ink near the top on each page, and the content on which confidentiality has been claimed highlighted/ typed in red ink, together with a non-confidential version thereof, which shall redact/ not contain such information or document(s) or part(s) thereof upon which confidentiality has been claimed. (4) The non-confidential version of such information or document(s) shall be an exact copy of the confidential version with the omissions of the confidential information being indicated in a conspicuous manner, as stipulated in sub-regulation (3). (5) The information or document(s) or part(s) thereof that have been claimed to be confidential under this regulation shall be segregated from the non-confidential record and kept securely, bearing the title, the docket number of the proceeding, the notation confidential and the date on which confidential treatment expires: Pro .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... enterprise, or to any other person, whatsoever, and that they shall use such information and document(s) only for the purposes of the proceedings under the Act, and shall keep such information and documents within their sole custody, and shall destroy the same at the culmination of the present proceedings: Provided that separate undertaking(s) on aforesaid terms in the form of an affidavit shall also be provided by each party included in the Confidentiality Ring, to the other parties in the matter, whose confidential information is being accessed by its members, and the parties shall have the liberty to avail suitable remedies as per law, in case of any breach of such undertaking(s) ): Provided further that the parties concerned and their members forming part of Confidentiality Ring shall be liable to be proceeded against as per the provisions of the Act for breach of undertakings. (9) The parties shall file undertakings in terms of sub-regulation (8) above within a period of 10 (ten) days from the date of receipt of the order setting up Confidentiality Ring: Provided that if the Commission is satisfied that the party was prevented by sufficient cause from filing the undertaking w .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nt under sub-section (1) of Section 16 of the Act or any expert or professional engaged by the Commission under sub-section (3) of Section 17 of the Act or any expert called upon to assist the Commission under sub-section (3) of Section 36 of the Act privy to the contents of the information or document(s) or part(s) thereof that have been claimed confidential under this regulation, shall maintain confidentiality of the same and shall not use or disclose or deal with such confidential information for any purpose other than the purposes of the Act or any other law for the time being in force: Provided that breach of confidentiality by any officer or employee of the Commission/ Office of the Director General shall constitute a ground for initiation of disciplinary proceedings under the relevant rules or regulations, as the case may be: Provided further that breach of confidentiality by any expert or professional engaged by the Commission under sub-section (3) of Section 17 of the Act or any expert called upon to assist the Commission under sub-section (3) of Section 36 of the Act shall be sufficient ground for termination of the engagement or contract, as the case may be. 37. Complian .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rement of these regulations shall not invalidate any proceeding, merely by reason of such failure, unless the Commission is of the view that such failure has resulted in miscarriage of justice. 41. Taking of evidence. (1) Subject to the provisions of the Act, the Commission or the Director General, as the case may be, may determine the manner in which evidence may be adduced in the proceedings before them. (2) Without prejudice to sub-regulation (1), the Commission or the Director General, for the purpose of inquiry or investigation, as the case may be, may (a) admit evidence taken in the form of verifiable transcripts of tape recordings, unedited versions of video recording, electronic mail, telephone records including authenticated mobile telephone records, written signed unsworn statements of individuals or signed responses to written questionnaires or interviews or comments or opinions or analyses of experts based upon market surveys or economic studies or other authoritative texts or otherwise, as material evidence; (b) admit on record every document purporting to be a certificate, certified copy or other document, which is by law declared to be admissible as evidence of any p .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... signature when relevant; (c) section 63 - admissibility of electronic records; (d) section 66 - proof as to electronic signature; (e) section 73 - proof as to verification of digital signature; (f) section 81 - presumption as to Gazettes in electronic or digital record; (g) section 85 - presumption as to electronic agreements; (h) section 86 - presumption as to electronic records and electronic signatures; (i) section 87 - presumption as to electronic signature certificates; (j) section 90 - presumption as to electronic messages; (k) section 91 - presumption as to due execution etc., of documents not produced; (l) section 93 - presumption as to electronic records five years old; may be applicable for the purpose of inquiry or investigation, by the Commission or the Director General, as the case may be. (4) The Commission or the Director General, as the case may be, may call for the parties to lead evidence by way of affidavit or lead oral evidence in the matter. (5) If the Commission or the Director General, as the case may be, directs evidence by a party to be led by way of oral submission, the Commission or the Director General, as the case may be, if considered necessary or exp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s initialed or unless in the case of an erasure the words or figures written on the erasure are re-written in the margin and initialed, by the authority before whom, the affidavit is sworn. (8) The Commission or the Director General, as the case may be, may refuse to receive an affidavit where in its opinion the interlineations, alterations or erasures are numerous as to make it expedient that the affidavit should be re-written. (9) Where a specific time is given for filing affidavits, no affidavit filed after that time shall be used except by leave of the Commission or the Director General, as the case may be. (10) In these regulations, affidavit includes a document required to be sworn, affirmed or verified. In the verification of petitions and other proceedings, statements based on personal knowledge shall be distinguished from statement based on information and belief. (11) The Commission or Director General may, during the course of the proceedings, where considered necessary and expedient, in the interest of justice, relax any or all of the above provisions in this regulation. 43. Production of additional evidence before Commission. (1) The parties to the proceedings shall no .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... examine him, or cause him to be examined on oath. 45. Power of Commission or Director General to issue commissions for examination of witnesses or documents. (1) Subject to the provisions of clause (d) of sub-section (2) of section 36 and sub-section (2) of section 41 of the Act, the Commission or the Director General, as the case may be, either on its or his own motion or on an application made by a party to any proceeding before the Commission or the Director General, may issue a commission for the examination on questionnaires or otherwise of the specified witness(es), (a) residing within India; (b) who is about to leave India before the date on which he or she is required to be examined as a witness; (c) who, being in the service of the Central Government, a State Government or a statutory authority, cannot, in the opinion of the Commission or the Director General, as the case may be, attend without detriment to the public service; (d) who is unable to attend due to sickness or infirmity; (e) who resides at a place which is more than five hundred kilometres distance from the office of the Commission or the Director General, as the case may be, and whose attendance, in the opini .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d under sub-regulation (4) with such part of record of the proceedings and such instructions as appear necessary and the instructions shall distinctly specify that the commission is restricted to finding the facts through the examination as directed and the Commissioner is merely required to transmit the record of the proceedings to the Commission on completion of the examination. (7) Any Commissioner appointed under this regulation may, unless otherwise directed by the order of appointment (a) examine the witness himself; (b) call for and examine the documents and other things relevant to the subject of inquiry. (8) The Commission or the Director General, as the case may be, issuing a commission under this regulation shall fix a date on or before which the commission shall be returned after execution, and the date so fixed shall not be extended except, for reasons to be recorded, the Commission or the Director General, as the case may be, is satisfied that there is sufficient cause for extending the date. 46. Authorizing a representative to appear. (1) Subject to the provisions of section 35 of the Act, in any proceeding, where the pleading is also signed by an authorized represen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... y such person, unless a request in writing accompanied by an authorisation letter or vakalatnama is duly submitted to the Director General, prior to commencement of the proceedings. (b) The Advocate shall not sit in front of the person so summoned. (c) The Advocate shall not be at a hearing distance and shall not interact, consult, confer or in any manner communicate with the person, during his examination on oath. 48. Proceedings before Commission not to be open to public. Except where the Commission may so direct, for reasons to be recorded, the proceedings before the Commission, during an ordinary meeting, shall not be open to public. In taking the decision to open the proceedings to public, the Commission may take into account all or any of the following matters namely: (a) whether disclosure to public does not cause significant harm to a party; (b) degree of inhibition or encouragement in providing information in public; (c) efficient and proper conduct of proceeding; (d) resources of the Commission. 49. Procedure for imposition of penalty under the Act. (1) Notwithstanding anything to the contrary contained in any regulations framed under the Act, no order or direction imposi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he fee as under, - (a) Rupees 500 (five hundred) in case of individual or Hindu Undivided Family (HUF), or (b) Rupees 1,000 (one thousand) in case of Non-Government Organisation (NGO), or Consumer Association, or Co-operative Society, or Trust or (c) Rupees 1,000 (one thousand) in case of firm (including proprietorship, partnership or Limited Liability Partnership) or company (including one-person company) having turnover in the preceding year upto rupees two crore, or (d) Rupees 5,000 (five thousand) in all other cases. (3) Each Miscellaneous Application received under sub-regulation (6) of regulation 16 shall be accompanied by proof of having paid the fee as under, - (a) rupees 3,000 (three thousand) in case of individual or Hindu Undivided Family (HUF), or (b) rupees 6,000 (six thousand) in case of Non-Government Organisation (NGO), or Consumer Association, or a Co-operative Society, or Trust, or (c) rupees 25,000 (twenty-five thousand) in case of firm (including proprietorship, partnership or Limited Liability Partnership) or company (including one-person company) having turnover in the preceding year upto rupees two crore, or (d) rupees 60,000 (sixty thousand) in case of firm .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... or eminence of those invited to assist the Commission. 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-impleme .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ion. (3) It shall be the duty of the Secretary to publish the orders or decisions referred to in this regulation. 56. Removal of difficulty. In the matter of implementation of these regulations, if any doubt or difficulty arises, the decision of the Commission thereon shall be binding. 57. Repeal and Savings. (1) The Competition Commission of India (General) Regulations, 2009, stand repealed from the date on which these regulations come into force. (2) Notwithstanding such repeal, (a) anything done or any action taken or purported to have been done or taken, or any proceedings or decision, inquiry or investigation commenced under the repealed regulations, prior to such repeal, shall be deemed to have been done or taken under the corresponding provisions of these regulations; (b) the operation of the repealed regulations or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred thereunder, or any investigation, legal proceeding or remedy ensued thereunder, shall remain unaffected as if the repealed regulations have never been repealed; (c) after the repeal of the Competition Commission of India (General) Regulations, 20 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates