The Competition Commission of India (CCI) would soon start an online portal to facilitate easier and faster compliance.
CCI Chairman Ashok Chawla said on Friday that the commission plans to release a competition compliance manual that would foster a spirit of compliance with competition law. Noting that the competition law is a complex mix of economic and legal principles, he said as the Indian economy is standing at a historic juncture, it is imperative that the industry familiarises itself with its various provisions and their implications.
“Under the honourable prime minister's programme of ease of doing business, we are in the process of developing a ‘Know it Yourself Online Module’ that would help enterprises understand whether any contemplated transaction is notifiable or not. The aim of the manual would be to help industry stakeholders better understand and navigate the merger control regime in India", he said at a CII event on competition law.
Chawla also indicated that the commission could further alleviate industry concerns by issuing guidelines relating to non-compete clauses and the imposition of penalties.
Zia Mody, chairperson, CII National Committee on Regulatory Affairs and managing partner of AZB & Partners, while appreciating the sincere initiatives undertaken by the commission, stated that the CCI has done a remarkable job in a short span of time and has facilitated communication with its various stakeholders on a regular basis. She observed that the competition law regime is extremely dynamic and continuously evolving based on the cases brought before it. Certain issues that face the industry require deliberations which would thereby ease the way in which business is carried out in India, she said.
Mody also echoed the industry sentiment that the CCI should issue guidelines on the imposition of penalties.