A PYMNTS Company

India: CCI amends rules to impose interest on late antirust fine payers

 |  August 12, 2014

The Competition Commission of India is seeking to recover funds from imposing fines on anticompetitive companies, and has now reportedly amended certain rules to encourage those payments.

According to reports, the CCI has amended the CCI Manner of Recovery of Monetary Penalty Amendment Regulations that imposed a 1.5 percent interest on late antitrust fines. The amendment was notified on July 30, reports say.

From now on, the CCI plans to notify late payers of competition fines imposed by the regulator of the 1.5 percent monthly interest.

According to reports, while the CCI has imposed significant penalties for anticompetitive practices, the regulator only recovers a fraction of those fines.

Full content: Economic Times of India

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.