(Last Updated On: February 26, 2016)
Institutional Guidelines Adopted by CCI
As mandated under the Competition Act, 2002, the Competition Commission of India may impose penalties, and/or issue cease & desist order in appropriate cases. However, while imposing penalties under section 27 of the Act, the Commission takes into account the aggravating and mitigating factors before arriving at the fair and judicious quantum of such penalties.
Penalties are imposed in order to eliminate practices having adverse effect on competition, as well as for promoting and sustaining competition, primarily to protect the interests of consumers.
This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.
Source Ministry of Corporate Affairs 26-February, 2016