(a) whether there is any institutional guidelines adopted by Competition Commission of India (CCI) while calculating percentage of penalty imposed by it under Section 27 of the Competition Act, 2002;
(b) if so, the details thereof;
(c) if so, whether the penalties on the companies drive them out of business itself/or lead them to shut down their entire operations; and
(d) if so, the reaction of the Government thereon?
THE MINISTER OF CORPORATE AFFAIRS (SHRI ARUN JAITLEY)
???????? ????? ?????? (???? ?????)
(a) and (b) As mandated under the Competition Act, 2002, the Competition Commission of India may impose penalties, and/or issue cease & desist order in appropriate cases. However, while imposing penalties under section 27 of the Act, the Commission takes into account the aggravating and mitigating factors before arriving at the fair and judicious quantum of such penalties.
(c) and (d) No, Madam. Penalties are imposed in order to eliminate practices having adverse effect on competition, as well as for promoting and sustaining competition, primarily to protect the interests of consumers.
******