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Business EconomyPosted at: Oct 7 2016 6:16PM


CCI compliance manual on anvil

New Delhi, Oct 7 (UNI) Competition Commission of India (CCI) Chairperson Devender Kumar Sikri today said the long standing demand of industry to issue guidelines, it plans to release a ‘Competition Compliance Manual’ soon.
The CCI hopes that such a manual would foster a spirit of compliance with competition law. The chairperson also indicated that the Commission could further alleviate industry concerns by issuing guidelines relating to non-compete clauses and the imposition of penalties.
In a conference organised by the Confederation of Indian Industry (CII) in Mumbai on Competition Law and Practice, Mr Sikri “under the Prime Minister programme of Ease of doing Business, we are in the process of developing a ‘Know it Yourself Online Module’ that will help enterprises understand whether any contemplated transaction is notifiable or not.”
He promised that the aim of the manual would be to help industry stakeholders better understand and navigate the merger control regime in India.
Mr Sikri observed that competition law is a complex mix of economic and legal principles, and as the Indian economy is standing at a historic juncture, it is imperative that the industry familiarises itself with its various provisions and their implications. The Chairperson stressed the fact that the Commission is aware of the issues that the industry faces and will continue to engage with its stakeholders to ease how business is done in India.
On the occasion, Zia Mody, Chairperson, CII National Committee on Regulatory Affairs and Managing Partner of AZB & Partners while appreciating the sincere initiatives undertaken by the Chairperson, stated that the Commission has done a remarkable job in a short span of time and has facilitated communication with its various stakeholders on a regular basis.
She observed that the competition law regime to be extremely dynamic and is continuously evolving based on the cases brought before it. Certain issues that face the industry require deliberations which would thereby ease the way in which business is carried out in India. Ms. Mody echoed the industry sentiment that the CCI should issue guidelines on the imposition of penalties.
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