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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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, as the Commission may determine. If any person does not comply with the orders or directions issued, or fails to pay the fine imposed under this section, he shall be punishable with imprisonment for a term which will extend to three years, or with fine which may extend to ₹ 25 corres or with both, as the Chief Metropolitan Magistrate, Delhi may deem fit. This action is without prejudice to any proceedings to be taken under Section 39, which deals with execution of orders of Commission im .....

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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 Commissioner under Section 36(2) and Section 36(4) and the directions of the Director General while exercising his powers under Section 41(2), such person shall be punishable with fine which may extend to ₹ 1 lakh for each day during which such failure continues subject to a maximum of ₹ 1 crore as may be determined by the Commission. Penalty for non furnishing of information on combination Section 43A provides that if any person or enterprise who fails to give notice to the Comm .....

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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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de the full, true and vital disclosures under this Section. If the Commission is satisfied that such producer, seller, distributor, trader or service provider included in the cartel had in the course of proceedings-\ not complied with the condition on which the lesser penalty was imposed by the Commission; or had given false evidence; or the disclosure made is not vital and thereupon such producer, seller, distributor, trader or service provider may be tried for the offence with respect to which .....

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