The Competition Appellate Tribunal has warned that the Competition Commission of India does not have unlimited power to demand information from parties in its investigations in the wake of appealing the CCI’s order to fine five individuals nearly $500 a day, a fine the individuals have since appealed. The CCI threatened to increase the daily fine if those individuals did not hand over account books within 30 days. In a statement, the Competition Appellate Tribunal (COMPAT) said that “we are unable to agree with the Commission in spite of its finding of breach of its directions.” Further, COMPAT said that the CCI cannot demand information without giving reason as to why the entity needs those documents.
Full Content: MoneyControl.com
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