CCI proposes amendments to general rules, seeks feedback from stakeholders

The Competition Commission of India (CCI) is soliciting stakeholder feedback on proposed amendments to the CCI (General) Regulations, 2009, in response to recent alterations to the Competition Act. These amendments, stemming from the Competition (Amendment) Act, 2023, aim to update and align the regulations with the amended framework. \r

Notable changes include delineating a process for implementing and monitoring CCI orders, involving independent agencies like accounting firms or consultancies. These agencies will ensure compliance, maintain confidentiality, and handle conflicts of interest. Penalties can only be imposed after the affected party receives a show cause notice. Stakeholders have until July 8 to provide input.\r

The amendments are intended to fortify the regulatory framework for more effective competition enforcement in India.