The Competition Commission of India (CCI) received global recognition as its “Determination of Monetary Penalty Guidelines, 2024” has been nominated for the 2025 Concurrences Antitrust Awards in the Soft Laws & Studies category.
Key Points
- The Concurrences Antitrust Writing Awards, organised annually, celebrates outstanding contributions in competition law and policy worldwide.
- CCI’s guidelines was introduced in 2024. These guidelines provide a structured framework for determining monetary penalties in antitrust cases, enhancing transparency and predictability in enforcement.
- The Monetary Penalty Guidelines, 2024, aim to ensure proportional penalties, aligning India’s competition enforcement practices with international best practices.
- If CCI wins, it will mark a significant milestone in India’s regulatory advancements on the global stage.
About Competition Commission of India
- The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws.
- The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.
- The objectives of the Act are sought to be achieved through the Competition Commission of India, which has been established by the Central Government with effect from 14th October 2003.
- The Commission shall consists of a Chairperson and not less than two and not more than six other Members to be appointed by the Central Government.
- It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
(Source: Business Line and CCI)
