The Competition Commission of India (CCI) on August 25, 2023, issued a draft Competition Commission of India (Settlement) Regulations, 2023.
The Settlement Regulations provide the procedure to be followed during settlement proceedings including the following:
• Form and contents of the application for settlement along with fee payable;
• Procedure of settlement proceedings;
• Period during which settlements may be proposed;
• Manner in which the CCI will invite objections and suggestions to the settlement terms;
• Factors to be considered by the CCI in assessing the settlement terms;
• Manner of determining the settlement amount;
• Nature and effect of the settlement order;
• Implementation and monitoring of the terms of the settlement order; and
• Revocation of the settlement order.
The CCI invites stakeholders to submit written comments on the draft Settlement Regulations within 21 (twenty-one) days from August 24, 2023, to September 13, 2023. The comments must be sent only by duly filling out the form hosted on the CCI’s website at: https://cci.gov.in/stakeholders-topics-consultatio
