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PENALTIES UNDER COMPETITION ACT 2002

Other Topics - By: - Mr. M. GOVINDARAJAN - Dated:- 3-8-2015 - Chapter VI of the Competition Act, 2002 ( Act for short) provides for the penalties that can be imposed under the Act. The provisions of Chapter VI came into effect from 20.05.2009 except section 44 which came into effect from 01.06.2011. Nearly all the provisions of this section met amendment to the original provisions with effect from 20.05.2009. Penalty for contravention of orders of Competition Commission Section 42 provides penal .....

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ion on certain combinations; Section 32 - Acts take place outside India but having an effect on competition in India; Section 33 - Interim orders issued by Commission; Section 42A - Compensation in case of contravention of order of Commission; Section 43A - Order for penalty for non furnishing of information on combination. of the Act, he shall be punishable with fine which may extend to ₹ 1 lakh for each day during which such non compliance occurs, subject to a maximum of ₹ 10 crore .....

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posing monetary penalty. The Chief Metropolitan Magistrate, Delhi shall not take cognizance of any offence under this section save on a complaint filed by the Commission or any of its officers authorized by it. Compensation in case of contravention of orders of Commission Section 42A of the Act provides that any person may file an application to the Appellate Tribunal for an order for the recovery of compensation from any enterprise for any loss or damage caused for the contravention of the orde .....

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of this Act, the same powers as are vested in a Civil Court under the Code of Civil Procedure, 1908 while trying a suit, in respect of the following matters, namely:- summoning and enforcing the attendance of any person and examining him on oath; requiring the discovery and production of documents; receiving evidence on affidavit; issuing commission for the examination of witnesses or documents; requisitioning, subject to the provisions of Sections 123 and 124 of the Indian Evidence Act, 1872 an .....

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the Director General or the Secretary or any other officer authorized by it, as respects the trade or such other information as may be in his possession in relation to the trade carried on by such person, as may be required for the purposes of this Act. Section 41(2) provides that the Director General shall have all the powers as are conferred upon the Commission under Section 36(2) of the Act. Section 43 provides that if any person fails to comply without reasonable cause, with a direction by .....

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ission under Section 6(2) of the Act, the Commission shall impose on such person or enterprise a penalty which may extend to 1% of the total turnover or the assets, whichever is higher, of such a combination. Penalty for making false statement or omission to furnish material information Section 44 provides that if any person, being a party to a combination makes a statement which is false in any material particular or knowing it to be false or omits to state any material particular knowing it to .....

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ve to be false in any material particular; or omits to state any material fact knowing it to be material; or willfully alters, suppresses or destroys any document which is required to be furnished as aforesaid, such person shall be punishable with fine up to ₹ 1 crore as may be determined by the Commission. Further the Commission pass such order as it deems fit. Power to impose lesser penalty Section 46 gives powers to the Commission to impose lesser penalty than specified in the provision .....

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