'CCI gets 113 unfair biz practices related cases this fiscal'

As many as 113 cases of alleged cartelisation and unfair business practices have been reported to the Competition Commission so far this financial year, the government said today.
Competition Commission of India (CCI) keeps a tab on unfair business practices across sectors in the market place.
In a written reply to Lok Sabha, Corporate Affairs Minister Arun Jaitley said the number of "cases of cartelisation/unethical business practices reported to CCI" stood at 113 in the current financial year till February 23.
The cases pertain to various sectors including petroleum and natural gas, real estate, banking and insurance, and automobiles.
Last fiscal, the number of such cases was at 128, higher than 115 cases seen in 2013-14 period. In 2012-13, there were 94 such cases.

Responding to a separate query, Jaitley said CCI may impose penalties in appropriate cases.

CCI takes into account the aggravating and mitigating factors before arriving at the fair and judicious quantum of such penalties, he noted.
"Penalties are imposed in order to eliminate practices having adverse effect on competition as well as for promoting and sustaining competition, primarily to protect the interest of consumers," the Minister said.
His response was to a query on whether the penalties on the companies drive them out of business itself or lead them to shut down their entire operations.