The Ministry of Corporate Affairs, via notification dated February 20, 2024, has brought into force the amendments proposed to Section 46 of the Act. A brief overview of the amended Section 46 of the Act is as follows:
- The Competition Commission of India ("CCI/Commission") may allow a producer, seller, distributor, trader, or service provider included in a cartel to withdraw its application for lesser penalty.
- The Director General and the Commission will be entitled to use any evidence submitted by a producer, seller, distributor, trader, or service provider in its application for lesser penalty, except its admission.In case during the course of the investigation, a producer, seller, distributor, trader, or service provider, who has already disclosed a cartel, makes a vital disclosure with respect to another cartel in which it is alleged to have violated Section 3 of the Act, the Commission may impose upon such producer, seller, distributor, trader, or service provider a lesser penalty in respect of the cartel already being investigated without prejudice to the relevant producer, seller, distributor, trader, or service provider obtaining lesser penalty regarding the newly disclosed cartel.
Originally published 05 April 2024
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