Competition Appellate Tribunal established to hear appeals, award compensation and strengthen enforcement of competition orders.
The Amendment establishes a Competition Appellate Tribunal to hear appeals against specified Commission orders and to adjudicate and order recovery of compensation; reconstitutes the Competition Commission with prescribed qualifications, selection and whole time membership; strengthens the Director General's investigative office and procedural rules; revises combination thresholds and extends merger review timelines including a mandatory waiting period; enhances interim powers, penalties for non compliance, non furnishing of information and false disclosures; and repeals the MRTP Act with transitional arrangements transferring cases, staff and monies.