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of <h1>Section 43A of Competition Act: Penalties for Non-Compliance in Combination Notifications and Inquiry Information Under Section 6 and 20.</h1> Section 43A of the Competition Act, 2002 empowers the Commission to impose penalties on any person or enterprise that fails to notify the Commission about a combination as required under specific subsections of Section 6, or fails to provide information during an inquiry under Section 20. The penalty can be up to one percent of the total turnover, assets, or transaction value, whichever is higher. If a notice is deemed void, parties have thirty days to rectify the notice without penalty. This provision was amended in 2023, effective from September 2024.
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