Moneycontrol’s Sakshi Batra talks to Ram Kumar Poornachandran, Partner, TT&A about the key provisions of the Competition Amendment Bill 2020 and the major changes proposed in the bill.
Competition Law Review Committee (CLRC) submitted its report in July 2019 and recommendations were reflected in the recent draft Competition (Amendment) Bill, 2020.
The amendments will significantly overhaul the Competition Act with a few concerns which are being discussed in the industry.
One is the introduction of settlement and commitments mechanism which enables the parties under investigation to admit the anti-competitive conduct. The proposed amendments don’t target any set of companies. These draft amendments don't target any set of companies, indirectly benefitting the consumers. These changes will definitely help the CCI perform.
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