TaxTMI 
TaxTMI 
Competition Commission of India (Settlement) Regulations, 2024
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....Commission of India established under sub-section (1) of section 7 of the Act; (c) "Director General" means the Director General as defined in clause (g) of section 2 of the Act; (d) "Penalty Guidelines" means guidelines published by the Commission under sub-section (3) of section 64B of the Act; (e) "Settlement Amount" means the amount determined by the Commission under regulation 6 of these regulations; (f) "Settlement Applicant" means any enterprise, as defined in clause (h) of section 2 of the Act, against whom any inquiry has been initiated under sub-section (1) of section 26 of the Act for alleged contraventions of sub-section (4) of section 3 or section 4 of the Act, and submits an application for settlement of proceedings initiated for the alleged contraventions to the Commission under these regulations; (g) "Settlement Application" means an application submitted by a Settlement Applicant to the Commission under these regulations for settlement of proceedings initiated for the alleged contraventions of sub-section (4) of section 3 or section 4 of the Act. (2) Words and expressions used but not defined in these regulations shal....
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....ntions, duly capturing settlement proposal offered by the Settlement Applicant and how they address the competition concerns. j) details of other competition authorities, fora or courts, if any, which have examined or are currently examining the alleged contraventions including those where the Settlement Applicant has filed commitment and / or settlement applications. k) undertakings and waivers as per Schedule I. l) any other information that may assist the Commission in determining the terms of the settlement and the Settlement Amount having due regard to the factors specified under regulation 8. (2) The Settlement Application under sub-regulation (1) may be submitted after the receipt of the report of the Director General or confidential version thereof, if applicable, by the Settlement Applicant under sub-section (4) of section 26 of the Act. Provided that a Settlement Application shall not be entertained by the Commission if it is made after expiry of 45 (forty five) days from the receipt of report of the Director General or confidential version thereof, if applicable, by the Settlement Applicant. Provided further that the Commis....
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.... Commission shall invite objections and suggestions in terms of regulation 5. (5) After consideration of the nature, gravity and impact of the alleged contraventions, the proposal for settlement submitted by the Settlement Applicant and the comments, objections, or suggestions received under regulation 5, a.) the Commission may pass an order in terms of sub-section (3) of section 48A of the Act agreeing to the proposal for settlement as contained in the Settlement Application filed under sub-regulation (1) of regulation 3 or the revised Settlement Application filed under sub-regulation (2) above, as the case may be, subject to such other terms relating to manner of implementation of settlement and monitoring and close the proceedings against the Settlement Applicant forthwith. b.) if the Commission is of the opinion that the Settlement Application filed under sub-regulation (1) of regulation 3 or the revised Settlement Application filed under sub-regulation (2) above, as the case may be, are not appropriate in the circumstances, it shall by order passed in terms of sub-section (5) of section 48A of the Act, reject the Settlement Application and proceed with its....
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....s of sub-section (3) of section 48A of the Act. (9) If the Settlement Applicant fails to communicate its acceptance of the Settlement Amount within the time period prescribed in sub-regulation (7) or fails to pay the Settlement Amount within the time period prescribed in sub-regulation (8), the Commission shall by an order passed in terms of sub-section (5) of section 48A of the Act, reject the Settlement Application and proceed with its inquiry under section 26 of the Act. (10) The entire settlement proceedings shall be concluded within 180 (one hundred and eighty) working days of the receipt of the Settlement Application complete in all respect in terms of regulation 3, failing which the inquiry under section 26 of the Act against the Settlement Applicant shall stand resumed. Provided that the Commission may extend the said period of 180 (one hundred and eighty) working days by such further period as may be specified, if deemed appropriate, for reasons to be recorded in writing. (11) The Commission may seek clarification, information, or data from the Settlement Applicant, as deemed appropriate, which shall be provided by the Settlement Applicant within the time speci....
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....b) statement of comments, objections and suggestions duly authenticated by the authorised representative and supported by relevant documents. c) a summary of the comments, objections and suggestions not running into more than four pages. d) any other information that may assist the Commission in determining the terms of the settlement. 6. Manner of determining the Settlement Amount. - (1) For the purpose of determining Settlement Amount, the Commission would compute base amount which could extend up to maximum amount of penalty that would otherwise have been leviable under section 27(b) of the Act. (2) For the purpose of determining base amount as referred to in sub-regulation (1), the Commission shall be guided by the Penalty Guidelines. (3) The Settlement Amount would be determined by applying a settlement discount of 15% to the base amount computed under sub-regulation (1) and (2). 7. Nature and effect of settlement order. - (1) Without prejudice to provisions of section 53N of the Act, the order passed by the Commission agreeing to the proposal for settlement shall not be construed as a finding of contravention by the Commission against the S....
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....s total turnover exceeding Rs. 50,00,00,000 (rupees fifty crores) and up to Rs. 500,00,00,000 (rupees five hundred crores) in India in the preceding financial year. (c) Rs. 50,00,000 (rupees fifty lakh) only in case the Settlement Applicant has total turnover exceeding Rs. 500,00,00,000 (rupees five hundred crores) in India in the preceding year. 2. The fee can be paid either by tendering demand draft or pay order or banker's cheque, payable in favour of Competition Commission of India (Competition Fund), New Delhi or through Electronic Clearance Service (ECS) by direct remittance to the Competition Commission of India (Competition Fund), Account No. 1988002100187687 with "Punjab National Bank, Bhikaji Cama Place, New Delhi- 110066". 10. Implementation and monitoring of settlement order. - Where the Commission is of the opinion that the implementation of the Settlement Order needs monitoring, it may appoint agencies to oversee such implementation in terms of the Competition Commission of India (General) Regulations, 2009 and on such terms and conditions as may be specified by the Commission. 11. Revocation of the Settlement Order. - (1) If a Settlement Appli....
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....Commission may, subject to the provisions of regulation 35 of the Competition Commission of India (General) Regulations, 2009 read with section 57 of the Act, use the information submitted by the Settlement Applicant against other parties to the inquiry who are not part of the settlement proceedings. (4) The facts established against the Settlement Applicant or admitted in any ongoing or concluded proceedings in India or outside India, with respect to the same cause of action, under any law, shall be deemed to be admitted by the Settlement Applicant in respect of the proceedings proposed to be closed under these regulations. 13. Request for Confidentiality. - 1. If any party request confidentiality of information or document(s) submitted during settlement proceedings, such request may be filed as per the procedure laid down in the Competition Commission of India (General) Regulations, 2009, as amended from time to time. 2. Such request for confidentiality shall be duly considered in accordance with the provisions laid down in the Competition Commission of India (General) Regulations, 2009, as amended from time to time read with section 57 of the Act. 14. Inspection a....