The Competition Commission of India (CCI) on March 06, 2024, notified the Competition Commission of India (Determination of Monetary Penalty) Guidelines, 2024.
The following has been stated: -
•Chapter I lays down various definitions of the terms like “legal maximum” and “relevant turnover”.
•Chapter II mentions about the Methodology for the Determination of Penalty for Enterprises under Section 27(B) of the Competition Act, 2002 which specifies Orders by the Commission after an inquiry into agreements or abuse of dominant position.
•Chapter III mentions about Methodology for the Determination of Penalty under Proviso to Section 27(B) of the Competition Act, 2002.
•Residuary Powers of the Commission are also specified in the guidelines.
They shall come into force on March 06, 2024.
The detailed notification is given in the document attached below.
[Notification No. B-14011/1/2024-ATD-II.]
