The government has formally introduced regulations governing settlement and commitment procedures under the competition law. The Competition Commission of India (CCI) has also released corresponding regulations outlining the specifics of these procedures. These provisions allow for the possibility of settlements or commitments to be proposed during investigations concerning anti-competitive vertical agreements and abuse of dominant position cases, excluding cartelization.
Both the corporate affairs ministry and the CCI have issued notifications detailing the provisions and regulations. Vaibhav Choukse, Partner and Head of Competition Law at JSA Advocates and Solicitors, noted that these provisions represent a significant advancement in the CCI’s regulatory framework. He believes that they will contribute to more efficient market corrections, particularly in rapidly evolving digital markets.
