Key Points
Competition Commission has sought stakeholders' comments on draft leniency plus regulations that will offer incentives to companies already under probe for cartelisation for providing information about other cartels..
As incentives, the entity giving information could get an additional reduction in monetary fine could be as much as 30 per cent with regard to the first cartel besides a reduction in penalty of up to 100 per cent in respect of newly disclosed cartels...
The framework is designed to create an additional incentive for companies to cooperate with antitrust authorities in identifying and addressing cartel activities, ultimately promoting fair competition...
The Competition (Amendment) Act, 2023 has introduced 'lesser penalty plus' and withdrawal of 'lesser penalty'/'lesser penalty plus' applications in the existing framework, to incentivise an existing LP applicant in respect of the first cartel to give full, true and vital disclosures about a second cartel unknown to the competition watchdog...
"The benefit for the applicant is that it will be eligible to receive an additional reduction in penalty for the first cartel besides reduction in penalty as per priority status in respect of first cartel, subject to fulfilment of prescribed terms and conditions," the Competition Commission of India (CCI) said...
You might be interested in
CCI notifies leniency-plus scheme to curb cartelisation
22, Feb, 24The Competition Commission of India (CCI) has implemented regulations for the leniency-plus regime, allowing companies involved in cartelisation to report other cartels and receive reduced penalties. The CCI can reduce penalties by up to 30% for involvement in the first cartel and up to 100% for newly-disclosed cartels. The amount of penalty reduction will be based on the evidence provided by the applicant.