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TMI BlogThe Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011X X X X Extracts X X X X X X X X Extracts X X X X ..... the Competition Commission of India established under sub-section (1) of section 7 of the Act; (c) demand notice means a notice issued by the Commission to an enterprise from whom any penalty is recoverable under the Act; (d) enterprise means enterprise as defined in clause (h) of section 2 of the Act; (e) enterprise in default means an enterprise which has not paid the penalty imposed on it within the stipulated time despite the demand notice duly served upon; (f) Income-tax authority means an authority as defined in section 116 of the Income-tax Act, 1961 (43 of 1961); (g) penalty means a monetary penalty or fine or any other sum imposed by the Commission and realisable under the Act; (h) penalty recovery register means the register as set out in Form IV appended to these regulations containing all the details of the penalties imposed by the Commission; (i) recovery certificate means a certificate issued by the Commission and to be executed by the recovery officer in terms of the Commission s orders; (j) recovery officer means an officer authorised by the Commission to recover the penalty from the enterprise or the enterprise in default as the case may be, as defined under these ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or arithmetical mistake made in the demand notice. 4. Extension of time and grant of instalments. (1) On an application made by the enterprise concerned, before the expiry of the due date of the payment specified in the demand notice, the Commission may extend the time for payment or allow payment by instalments, subject to such conditions as the Commission may think fit to impose in the circumstances of the case. (2) In a case where an extension has been granted and the enterprise concerned fails to make the payment within the time so extended, the enterprise concerned shall be deemed to be an enterprise in default. (3) In a case where payment by instalments has been allowed and the enterprise concerned commits default in paying any one of the instalments within the time fixed, the enterprise concerned shall be deemed to be enterprise in default as to the whole of the penalty then outstanding, and the other instalment or instalments shall also be deemed to have been due on the same date as the instalment actually in default. 5. Interest on penalty. If the amount specified in any demand notice is not paid within the period specified by the Commission, the enterprise concerned shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount of penalty imposed upon the enterprise in default in the manner specified in these regulations. (5) The recovery officer shall after issuance of recovery certificate proceed in accordance with the modes specified under these regulations for recovery of the penalty imposed. 8. Maintenance of Penalty Recovery Register. The recovery officer shall maintain the penalty recovery register as set out in Form IV appended to these regulations and update the penalty recovery register regularly. 9. Modes of Recovery. Where the enterprise in default fails to pay the penalty within the stipulated time as mentioned in the recovery certificate, the recovery officer shall proceed to recover the penalty in the following manner, (a) the recovery officer shall at any time after issuance of recovery certificate require any enterprise in default from whom penalty is due or may become due or any other enterprise who holds or may subsequently hold money for or on account of the enterprise in default, to pay to the Commission either forthwith upon the penalty becoming due or within the time specified in the recovery certificate so much of the money as is sufficient to pay the penalty due to the enter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecovered to the Commission, and thereafter the Secretary shall take appropriate steps to deposit the same in the account earmarked for the purpose; (h) where during the pendency of any proceeding or after the decision under the Act but before the service of the notice under regulation 3, any enterprise in default creates a charge or parts with the possession by way of sale, mortgage, gift, exchange or any other mode of transfer whatsoever of any of its assets in favour of any other person or enterprise, such charge or transfer shall be void as against any claim in respect of any penalty payable by such enterprise in default as a result of the decision of the said proceeding or otherwise: Provided that such charge or transfer shall not be void if it is made, (i) for adequate consideration and without notice of the pendency of such proceeding; or (ii) with the previous permission of the Commission. 10. Other modes of Recovery. After issuance of recovery certificate the recovery officer may also proceed to recover the amount of penalty through the modes mentioned below, in accordance with the rules laid down in the Second Schedule of Income-tax Act, 1961(43 of 1961), namely: (a) by at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermine the procedure, for specific matters, if so required. 16. Removal of difficulties. In the matter of implementation of these regulations, if any doubt or difficulty arises, the same shall be placed before the Commission and the decision of the Commission thereon shall be binding. THE COMPETITION COMMISSION OF INDIA FORM I (See regulation 3) DEMAND NOTICE [Under The Competition Act, 2002 (12 of 2003)] To . . . Subject: Notice of demand for the recovery of penalty imposed u/s ..of the Competition Act, 2002 (12 of 2003) regarding. WHEREAS vide order dated .. in the matter of . .. (case No. ..) the Competition Commission of India (the Commission) has imposed a penalty of Rs. (Rupees ..) on .. (Name of the concerned enterprise) having its office at .. (address) and having . PAN number under section(s) of the Competition Act, 2002 (12 of 2003) (the Act); and WHEREAS a copy of the said order was duly served upon you on (date); and in terms of the above mentioned order, the penalty of Rs. . (Rupees. ) was payable on (date); and WHEREAS you have not paid the said penalty within the time so specified; NOW, therefore, you are required to deposit a sum of Rs .. (Rupees .. ) within thirty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Commission) has imposed a penalty of Rs. . (Rupees ) on . (Name of the concerned enterprise) having its office at (address) and having .. PAN number under section (s) . of the Competition Act, 2002 (12 of 2003) (the Act); and WHEREAS the Commission, in its demand notice dated . to the enterprise had given time up to ; and WHEREAS you have failed to pay the said penalty despite the demand notice being served on you on .. within .. days as specified therein. Upon your failure to make payments within the aforesaid time, you are hereby deemed to be an enterprise in default; NOW, therefore, the Commission shall proceed to recover the amount due by adopting all or any of the modes specified under regulation 9 of the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2010 (the Regulations) including the following measures specified under regulation 10 of the Regulations, namely:- (a) Attachment and sale of any movable property of the enterprise; and/or (b) Attachment and sale of any immovable property of the enterprise. Place: . Date: : . Signature: . Name: . Designation : . (Recovery Officer) Seal THE COMPETITION COMMISSION OF INDIA FORM IV (See regu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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