TMI BlogConsideration of proposal for CommitmentX X X X Extracts X X X X X X X X Extracts X X X X ..... n its ordinary meeting within 7 (seven) working days of receipt thereof. (2) If the Commission is prima facie not satisfied with the commitments offered by the Commitment Applicant, it shall communicate to the Commitment Applicant the reasons for the same and call upon the Commitment Applicant to furnish, within 15 (fifteen) working days of the receipt of the said communication, revised Commitment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act agreeing to the commitments offered as contained in the Commitment Application filed under sub-regulation (1) of regulation 3 or the revised Commitment Application filed under sub-regulation (2) above, as the case may be, subject to such other terms relating to manner of implementation and monitoring of commitments and close the proceedings against the Commitment Applicant forthwith. b) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion. d) if the Commission after considering the revised Commitment Application filed under clause (c) of this sub-regulation (5) agrees with the same, it shall pass an order in terms of sub-section (3) of section 48B of the Act agreeing to the commitments offered subject to such other terms relating to manner of implementation and monitoring of commitment and close the proceedings against the Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry under section 26 of the Act. (7) The entire commitment proceedings shall be concluded within 130 (one hundred and thirty) working days of the receipt of the Commitment Application complete in all respect in terms of regulation 3, failing which the inquiry under section 26 of the Act against the Commitment Applicant shall stand resumed. Provided that the Commission may extend the said period of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment Application under clause (b) and (e) of sub-regulation (5), sub-regulation (6) and sub-regulation (9) above, grant the Commitment Applicant an opportunity of being heard. (11) The rejection under this regulation shall be communicated to the Commitment Applicant: Provided that the Commitment Applicant shall continue to be bound by undertakings and waivers given as per Schedule I. - statute, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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