CCI Specifies the Procedure for Filing of Settlement Applications and for Conducting Settlement Proceedings
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Notification No. CCI/Reg-S.R./2024; Dated: 06.03.2024
The CCI has notified the CCI (Settlement) Regulations, 2024. These regulations aim to specify the procedure for filing settlement applications and conducting settlement proceedings and matters connected therewith or incidental thereto.
The term ‘Settlement Application’ refers to an application submitted by a Settlement Applicant to the Commission under these regulations for the settlement of proceedings initiated for the alleged contraventions of section 3 or section 4 of the Act.
The term ‘settlement Applicant’ means any enterprise, as defined in section 2(h) of the Act, against whom any inquiry has been initiated u/s section 26 of the Act for alleged contraventions 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.
The Settlement 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 settlement proceedings must be concluded within 180 working days of the receipt of the settlement application, complete in all respects. Failing this, an inquiry u/s 26 of the Act against the settlement applicant shall stand resumed.
Further, 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 specified by the Commission.
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