Settlement, commitment framework will help CCI ensure faster market corrections: Gupta

As it steps up scrutiny of anti-competitive practices, CCI chief Ashok Kumar Gupta has said the proposed introduction of the settlement and commitment framework under the competition law will help reduce litigations and ensure faster market corrections.

The Competition Commission of India (CCI), which works to ensure fair business practices in the marketplace, is already empowered to invoke leniency provisions in cartel cases, subject to certain conditions.

On August 5, the government introduced the Competition (Amendment) Bill, 2022 in the Lok Sabha to amend various provisions of the competition law and the bill has been referred to the Parliamentary Standing Committee on Finance.

Among the amendments proposed is the introduction of the settlement and commitment framework, which will help reduce litigations.

“The existing statutory framework already provides for lesser penalty for cartels on self-reporting. Thus, the commitment and settlement mechanism for certain anti-competitive agreements… would make the law holistic in providing for trust-based solutions,” Gupta told

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