CCI Enhances Order Monitoring with New Regulations

The Competition Commission of India (CCI) can now appoint agencies to monitor the implementation of its orders, following the notification of amended regulations. These changes aim to ensure fair competition and procedural efficiency. A comprehensive review and public consultations preceded the amendments to the Competition Act.

The Competition Commission of India (CCI) has received the power to appoint agencies to oversee the implementation of its orders, following the notification of amended regulations.

This move addresses concerns regarding non-compliance flagged by various entities, aiming to uphold fair competition in marketplace practices.

Notified as the Competition Commission of India (General) Regulations, 2024, the new rules allow CCI to appoint entities such as accounting firms, management consultancies, or professionals like chartered accountants, company secretaries, or cost accountants to monitor its orders.

Should the CCI feel that the implementation of its orders—under sections 31, 48A, 48B, or any other relevant provisions—requires monitoring, it can now appoint these agencies under stipulated terms and conditions as per the new regulations.

Sections 48A and 48B deal with commitments and settlements, while Section 31 pertains to orders on mergers and acquisitions. The appointed agency bears the responsibility of informing CCI about non-compliance or failure in implementing its orders.

The amendments also introduce a 180-day timeline for issuing final orders post an interim order.

The revised measures come after a comprehensive review of CCI's regulations, following amendments made to the Competition Act in April 2023, which also involved public consultations.

According to Anjali Malhotra, Partner-Regulatory at Nangia Andersen India, the updates are meant to keep pace with evolving standards, reflecting a balance between stakeholder concerns and procedural efficiency while aligning with international best practices.

(With inputs from agencies.)