TaxTMI 
TaxTMI 
The Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011
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.... Act, 2002 (12 of 2003); (b) "Commission" means the Competition Commission of India established under sub-section (1) of section 7 of the Act; (c) "demand notice" means a notice issued by the Commission to an enterprise from whom any penalty is recoverable under the Act; (d) "enterprise" means enterprise as defined in clause (h) of section 2 of the Act; (e) "enterprise in default" means an enterprise which has not paid the penalty imposed on it within the stipulated time despite the demand notice duly served upon; (f) "Income-tax authority" means an authority as defined in section 116 of the Income-tax Act, 1961 (43 of 1961); (g) "penalty" means a monetary penalty or fine or any other sum imposed by the Commission and realisable under the Act; (h) "penalty recovery register" means the register as set out in Form IV appended to these regulations containing all the details of the penalties imposed by the Commission; (i) "recovery certificate" means a certificate issued by the Commission and to be executed by the recovery officer in terms of the Commission's orders; (j) "recovery officer" means an officer....
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.... later than seven days of the payment and the recovery officer shall make an entry in the penalty recovery register to the same effect. (5) The Commission may, at any time, rectify any clerical or arithmetical mistake made in the demand notice. 4. Extension of time and grant of instalments. (1) On an application made by the enterprise concerned, before the expiry of the due date of the payment specified in the demand notice, the Commission may extend the time for payment or allow payment by instalments, subject to such conditions as the Commission may think fit to impose in the circumstances of the case. (2) In a case where an extension has been granted and the enterprise concerned fails to make the payment within the time so extended, the enterprise concerned shall be deemed to be an enterprise in default. (3) In a case where payment by instalments has been allowed and the enterprise concerned commits default in paying any one of the instalments within the time fixed, the enterprise concerned shall be deemed to be enterprise in default as to the whole of the penalty then outstanding, and the other instalment or instalments shall also be deemed to have been due on th....
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....f default by the enterprise concerned he shall intimate to the Secretary and ensure thereafter issuance of recovery certificate to such an enterprise in default. (4) The recovery officer shall execute the recovery certificate to realise the amount of penalty imposed upon the enterprise in default in the manner specified in these regulations. (5) The recovery officer shall after issuance of recovery certificate proceed in accordance with the modes specified under these regulations for recovery of the penalty imposed. 8. Maintenance of Penalty Recovery Register. The recovery officer shall maintain the penalty recovery register as set out in Form IV appended to these regulations and update the penalty recovery register regularly. 9. Modes of Recovery. Where the enterprise in default fails to pay the penalty within the stipulated time as mentioned in the recovery certificate, the recovery officer shall proceed to recover the penalty in the following manner,- (a) the recovery officer shall at any time after issuance of recovery certificate require any enterprise in default from whom penalty is due or may become due or any other enterprise who holds or may subs....
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....rnment has entered into an agreement for the recovery of penalty under the Act and the corresponding law in force in that country), the Commission may propose to that country to take such action thereon as the Commission may deem appropriate having regard to the terms of the said agreement with such country and to remit any sum so recovered to the Commission, and thereafter the Secretary shall take appropriate steps to deposit the same in the account earmarked for the purpose; (h) where during the pendency of any proceeding or after the decision under the Act but before the service of the notice under regulation 3, any enterprise in default creates a charge or parts with the possession by way of sale, mortgage, gift, exchange or any other mode of transfer whatsoever of any of its assets in favour of any other person or enterprise, such charge or transfer shall be void as against any claim in respect of any penalty payable by such enterprise in default as a result of the decision of the said proceeding or otherwise: Provided that such charge or transfer shall not be void if it is made,- (i) for adequate consideration and without notice of the pendency of s....
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....or the recovery certificate shall be withdrawn or modified and the amount of penalty, if paid, shall be refunded. (2) In case of a refund, the Secretary shall issue a refund order for such amount, under his signature and seal. 15. Power to determine procedure in certain circumstances. In a situation not provided for in these regulations or the Competition Commission of India (General) Regulations, 2009, the Commission may determine the procedure, for specific matters, if so required. 16. Removal of difficulties. In the matter of implementation of these regulations, if any doubt or difficulty arises, the same shall be placed before the Commission and the decision of the Commission thereon shall be binding. THE COMPETITION COMMISSION OF INDIA FORM I (See regulation 3) DEMAND NOTICE [Under The Competition Act, 2002 (12 of 2003)] To .................................. .................................. .................................. Subject: Notice of demand for the recovery of penalty imposed u/s..............of the Competition Act, 2002 (12 of 2003) - regarding. WHEREAS vide order dated ....................... in th....
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....f money is paid) Full Particulars of the remittance and or authority (if any) Amount Head of Account Account Officer by whom adjustable Order to the Bank Name Competition Commission of India, New Delhi Rs. P. Head 1475.00.105.05 Sub Head-05- 'Penalties Imposed by Competition Commission of India' Pay and Accounts Officer (PAO), Ministry of Corporate Affairs Date Correct: Receive and grant receipt. (Signature and full designation of the officer ordering the money to be paid in) Signature Total* *(in words) Rupees To be used only in the case of remittances to the Bank through Departmental Officer of the Treasury Officer Received payment (in words) Rupees Treasurer Accountant Date Treasury Officer Agent or Manager (REVERSE) Particulars to be filled by the remitter Amount Rs. P. Cash Bank Draft/ Pay order (With details) THE COMPETITION COMMISSI....
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....ion under which such Order was passed 4 Details of Penalty (Amount + Interest) 5 Whether an extension of time has been granted under regulation 4. If so-details. 6 Whether payment in instalments has been allowed under regulation 4. If so, details. 7 Whether payment of penalty stayed by any authority/court; if so, (a) name of the authority/court (b) date of the order 8 Whether penalty reduced/waived stayed by any authority/court; if so, (a)name of the authority/ court (b)date of the order 9 Whether the Commission has modified the penalty order 10 Date of issuance of demand notice 11 Date of issuance of recovery certificate 12 Date of reference to the Income-Tax Authority, if any 13 Whether the provision of regulation 9(g), is attracted, if so, details thereof 14 Date of the part payment, if any 15 Date of full payment 16 Date of credit by the bank 17 Whether any refund order has been issued by the Secretary; If so, the date of the order 18 R....