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ARTICLE · 12 AUGUST 2024

JSA Newsletter | Competition Law | April 2024

JSA Advocates & Solicitors
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The Delhi High Court by way of its judgement dated April 26, 2024 held that interest on penalty amount cannot be levied by the Competition Commission of India in derogation to the procedure laid down in the CCI (Manner of Recovery of Monetary Penalty) Regulations, 2011.

IndiaAntitrust/Competition Law
Vaibhav Choukse
Vaibhav Choukse
Ela Bali
Ela Bali
Aditi Khanna
Aditi Khanna
Faiz Siddiqui
Faiz Siddiqui
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DELHI HIGH COURT

Delhi High Court sets aside CCI order directing Geep Industries to pay interest on penalty amount

The Delhi High Court ("DHC") by way of its judgement dated April 26, 2024 held that interest on penalty amount cannot be levied by the Competition Commission of India ("CCI") in derogation to the procedure laid down in the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations, 2011 ("Penalty Recovery Regulations").

Brief Background

On August 30, 2018, the CCI found Geep Industries (India) Private Limited ("Geep Industries") and Panasonic Energy India Co. Ltd. ("Panasonic"), guilty of indulging in cartelisation, in contravention of Section 3(3) of the Competition Act, 2002 ("Competition Act"). While the CCI granted 100% immunity to Panasonic and its office bearers for disclosing the existence of the cartel under the leniency regulations, it imposed a penalty @: (a) 4% of Geep Industries' turnover for each year

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