CCI: Initial penalties on companies won't be on global turnover

While determining monetary penalties, the Competition Commission of India (CCI) will reckon on factors such as how long the rules were violated, whether the offence has been repeated, and the extent of cooperation by the company, the latest guidelines issued by the antitrust watchdog on Wednesday said.

- RUCHIKA CHITRAVANSHI

While determining monetary penalties, the Competition Commission of India (CCI) will reckon on factors such as how long the rules were violated, whether the offense has been repeated, and the extent of cooperation by the company, the latest guidelines issued by the antitrust watchdog on Wednesday said.

The penalty for anti-competitive practices will not initially be imposed on global and total turnover but adjusted over the penalty calculated on the relevant turnover of the company.

The guidelines, issued without public consultation, follow the Ministry of Corporate Affairs' notification that empowers the CCI to impose penalties on the global turnover of a company and not just the one derived from the product or service under investigation.