The recent amendment to Competition Act, 2002 shall make it more difficult to challenge the Competition Commission of India’s (CCI) rulings in courts as the amendment raises the deposit amount to 25% of the penalty value from the erstwhile 10%.
This development signals financial distress for aggrieved parties since a considerable amount of money will now be held up for an indefinite period of time, being dependent on final adjudgment by the court.
In this article by LiveMint, our Partner Pritha Jha opines that impact will be higher on smaller companies as the recourse to justice and finality of transactions will become more expensive and affect their ability to contest CCI’s decisions.
Read the full article below:
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