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of <h1>Regulation 14 mandates refund of excess penalties if liability is reduced or dismissed by higher authorities.</h1> Regulation 14 of the CCI (Manner Of Recovery Of Monetary Penalty) Regulations, 2011, addresses the refund of excess penalties. If the Competition Appellate Tribunal, High Court, or Supreme Court determines that an enterprise is not liable for a penalty or is liable for a lesser penalty than previously stated, the demand notice or recovery certificate will be withdrawn or modified. Any penalty amount already paid will be refunded. The Secretary is responsible for issuing a refund order for the specified amount, which must be signed and sealed.
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