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of <h1>Section 45 of Competition Act: Penalties Increased for False Information, Document Tampering, Omissions. Fines Now Up to One Crore.</h1> Section 45 of the Competition Act, 2002, addresses penalties for contraventions related to the furnishing of information. If a person knowingly provides false information, omits material facts, or alters, suppresses, or destroys required documents, they are liable to a penalty up to one crore rupees as determined by the Commission. Additionally, the Commission may issue other orders it deems appropriate. Recent amendments have updated the terminology and increased the potential penalties from ten lakhs to one crore rupees.
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