The Competition Act of 2002 gives the CCI powers to impose ‘lesser penalty’ if a member of a cartel makes a full disclosure about alleged violations.
The Ministry of Corporate Affairs had set-up four working groups of experts and practitioners to facilitate implementation of the Insolvency and Bankruptcy Code, 2016.
The antitrust body ordered them to pay a penalty equivalent to 2 per cent of their annual average turnover for three years preceding the launch of its inquiry.
Most of funds will go towards modernisation and safety heads. Station development is big on our agenda.
CCI, COMPAT officials seek stronger provisions in the Competition Act.
People who had deferred their spending would start doing it now. And also, we see severalstates releasing seventh pay commission awards.
"Going forward, we are going to be in what I call an "audit state", when everybody is going to question us, audit us" said Rai speaking at an Assocham event.
COMPAT reduced a Rs 671 crore penalty slapped by the Competition Commission of India (CCI) on four public sector insurance companies to just Rs 2 crore.
They (government) have a new feedback every day from the ground and they are still trying to react to it, said Jiwarajka of the daily changes to the rules of currency exchange.
As earlier reported in the ET, this deal will see the Essar Group cutting their Rs 1.25-1.3 lakh crore group-wide debt by more than half.
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