New Delhi, Feb. 24 -- India's competition watchdog has cleared stricter penalty recovery rules to prevent erring parties from delaying payments by filing frivolous appeals, according to two people aware of the development.
The Competition Commission of India (CCI) has approved an overhaul of its norms to allow issuing a demand notice to the erring enterprise to recover the penalty alongside the adjudication order holding them guilty, the people said on the condition of anonymity as details are not public yet. This is a departure from the current practice of issuing demand notice after the period specified in the CCI order to pay the penalty ends.
That gave the erring parties a widow to side-step the CCI orders by resorting to delaying tac...