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TMI BlogCompetition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2025X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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 or a person 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) "legal heir" means a legal representative as defined in sub-section (11) to section 2 of the Code of Civil Procedure, 1908; (h) "penalty" means a monetary penalty or fine or any other sum imposed by the Commission and realisable under the Act; (i) "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; (j) "person" means a person as defined in clause (l) of section 2 of the Act; (k) "person in default" means a person who has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the recovery officer shall make an entry in the penalty recovery register to the same effect. (5) The Commission may, at any time, rectify any clerical or arithmetical mistake made in the demand notice. 4. Extension of time and grant of instalments. (1) On an application made by the enterprise or the person 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 or the person concerned fails to make the payment within the time so extended, the enterprise or the person concerned shall be deemed to be an enterprise in default or a person in default, as the case may be. (3) In a case where payment by instalments has been allowed and the enterprise or the person concerned commits default in paying any one of the instalments within the time fixed, the enterprise or the person concerned shall be deemed to be enterprise in default or a person in default ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time, rectify any clerical or arithmetical mistake made in the recovery certificate issued or extend the time for making any payment in pursuance of such recovery certificate. 7. Functions of Recovery Officer. (1) The Commission may, from time to time, authorise any of its officers to function as the recovery officer for the purposes of these regulations, to recover the penalties in the manner specified under these regulations. (2) The recovery officer shall ensure that the demand notice is duly served on the enterprise or the person concerned, as the case may be. In the case of non-service of the demand notice, the recovery officer shall immediately inform the Secretary. (3) When the payment of penalty is made by the enterprise or the person concerned, the recovery officer shall bring it to the notice of the Secretary. In the case of default by the enterprise or the person concerned, the recovery officer shall intimate to the Secretary and ensure thereafter issuance of recovery certificate to such an enterprise in default or a person in default, as the case may be. (4) The recovery officer shall execute the recovery certificate to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be presumed, until the 'contrary is proved', to be equal; Provided that the liability of a legal heir under this regulation shall be limited to the extent to which the estate of the deceased bestowed upon such legal heir, is capable of meeting the liability. (d) every enterprise or person to whom a recovery certificate is issued shall be bound to comply with such certificate, and, in particular, where any such notice is issued to a post office, banking company or an insurer, it shall not be necessary to produce any pass book, deposit receipt, policy, or any other document for the purpose of any entry, endorsement or the like being made before payment is made, notwithstanding any rule, practice or requirement to the contrary; (e) any claim respecting any property, in relation to which a recovery certificate has been issued, arising after the date of the demand notice, shall be void as against any demand contained in the recovery certificate; (f) where an enterprise or a person to whom a recovery certificate has been issued objects to it by a statement on oath that the sum demanded or any part thereof is not due to the enterprise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so simultaneously 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 attachment and sale of movable property of the enterprise or the person concerned; and (b) by attachment and sale of immovable property of the enterprise or the person concerned. 11. Reference by the Commission to the Income-tax authority. (1) Where the Commission is of the opinion, for reasons to be recorded in writing, that it would be expedient to recover the penalty imposed under the Act in accordance with the provisions of the Income-tax Act, 1961 (43 of 1961), it shall make reference under sub-section (2) of section 39 of the Act to the concerned Income-tax authority as set out in Form V appended to these regulations for recovery of the penalty as 'tax due' under the Income-tax Act, 1961 (43 of 1961). (2) Where the income-tax authority to which a reference under sub-regulation (1) has been made by the Commission initiates recovery proceedings, the recovery proceedings initiated by the Commission shall stand sine die defer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or any action taken or purported to have been done or taken, or any notice or certificate issued or proceedings 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 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 (Manner of Recovery of Monetary Penalty) Regulations, 2011, any reference thereto including in any regulations, direction or decision issued by the Commission, shall be deemed to be a reference to the corresponding provisions of these regulations. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... __ Penalty(ies) imposed under section __ of the Competition Act, 2002 Challan of Money paid into Treasury/Sub-Treasury or State/Reserve Bank of India at ________________________________ To be filled by the remitter To be filled by the departmental Officer or the Treasury By whom Tendered Name (or designation and address of the enterprise/ person on whose behalf money is paid) Full particulars of the remittance and/ or authority (if any) Amount Head of Account Account Officer by whom adjustable Order to the Bank Name Competition Commission of India, New Delhi Rs. P. Head 1475.00.105.05 [Sub Head 00] - 'Penalties Imposed by Competition Commission of India' Pay and Accounts Officer (PAO), Ministry of Corporate Affairs Date Correct: Receive and grant receipt. (Signature and full designation of the officer ordering the money to be paid in) Signature Total* *(in words) Rupees To be used only in the case of remittances to the Bank through Departmental Officer of the Treasury Officer Received payment (in words) Rupees ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Signature:........................... Date:......................... Name: .............................. Designation: ........................ (Recovery Officer) Seal THE COMPETITION COMMISSION OF INDIA FORM IV (See regulation 8) PENALTY RECOVERY REGISTER [Under The Competition Act, 2002 (12 of 2003)] Serial No. _________ Case No. __________ S. No. Entry Name Details 1 Name and address of the enterprise/person 2 Date of the Order by the Commission 3 Section under which such Order was passed 4 Details of Penalty (Amount + Interest) 5 Whether an extension of time has been granted under regulation 4. If so - details. 6 Whether payment in instalments has been allowed under regulation 4. If so, details. 7 Whether payment of penalty stayed by any authority/ court; if so, * name of the authority/court * date of the order 8 Whether penalty reduced/waived stayed by any authority/court; if so, * name of the authority/court * date of the order 9 W ..... X X X X Extracts X X X X X X X X Extracts X X X X
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