CCI Amends Lesser Penalty Regulations

Article by MM Sharma, Head Competition Law & Policy Practice, Vaish Associates, Advocates, New Delhi, India

The Competition Commission of India ("CCI") vide a Gazette Notification (published in the Gazette of India) on August 22, 2017, ("the amendment") has published "The Competition Commission of India (Lesser Penalty) Amendment Regulations, 2017 (No.1 of 2017), amending the existing Competition Commission of India (Lesser Penalty) Regulations, 2009 ("Leniency Regulations"), in keeping pace with some of the best practices in other jurisdictions. The amendments are largely in line with the draft amendments issued in March 2017 indicating that the CCI is now taking initiatives to streamline the procedures for applying for leniency on the basis of its experience in some ongoing matters.