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of <h1>False Statements in Combinations Under Section 44 Now Face Penalties Up to 5 Crore After 2023 Amendments</h1> Section 44 of the Competition Act, 2002, addresses penalties for providing false statements or omitting material information in the context of combinations. If a party knowingly makes a false statement or omits crucial information, they are subject to a penalty ranging from fifty lakhs to five crore rupees, as determined by the Commission. This penalty range was updated by the Competition (Amendment) Act, 2023, which increased the maximum penalty from one crore to five crore rupees.
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