CCI Specifies the Procedure for Filing Commitment Applications and Conducting Commitment Proceedings
- News|Blog|Competition Law|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 8 March, 2024
Latest from Taxmann
Notification No. CCI/Reg-C.R./2024; Dated: 06.03.2024
The CCI has notified the CCI (Commitment) Regulations, 2024. These regulations aim to specify the procedure for filing commitment applications and conducting commitment proceedings and matters connected therewith or incidental thereto.
A “Commitment Application” refers to an application submitted by a Commitment Applicant to the CCI offering commitments in respect of proceedings initiated for the alleged contraventions of section 3 or section 4 of the Act.
A ‘Commitment Applicant’ means any enterprise, as defined in section 2(h) of the Act, against whom any inquiry has been initiated under section 26 of the Act for alleged contraventions of section 3 or section 4 of the Act, and submits a Commitment Application.
The Commitment Application must be filed within 45 days from the receipt of the order passed by the Commission under section 26 of the Act. The Commitment Application complete in all respects in terms of regulation 3 must be placed for consideration before the Commission in its ordinary meeting within 7 working days of receipt thereof.
The entire commitment proceedings must be concluded within 130 working days of the receipt of the commitment application complete in all respects in terms of regulation 3, failing which the inquiry u/s 26 of the Act against the commitment applicant shall stand resumed.
Further, the Commission may seek clarification, information, or data from the Commitment Applicant, as deemed appropriate, which must be provided by the Commitment Applicant within the time specified by the Commission.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
