CCI recovers mere 0.26% of Rs 866 cr fines imposed

The Competition Commission of India (CCI) has managed to recover a dismal 0.26 per cent of over Rs 866 crore fines imposed by it on 153 entities for various violations, Parliament was informed today.
Besides, vast majority of fines were stayed by the antitrust regulator and courts.
In a written reply to Lok Sabha, Corporate Affairs Minister Arun Jaitley said that CCI has imposed a penalty of Rs 866.44 crore on 153 entities "out of which an amount of Rs 2.24 crore has been realised."
Further, "penalty amounting to Rs 122 crore has been stayed by the Competition Appellate Tribunal/Courts," he added.

Besides, the fine of Rs 742.34 crore is yet to be paid by these entities.
The fines were imposed on the entities for indulging in anti-competitive practices.

CCI has the mandate to eliminate practices that have adverse impact on competition and protect the interests of consumers.
The Minister has said that he has taken steps for recovery of penalty and prevention of anti-competitive activities by the entities under the provisions of Competition Act.
In addition, Jaitley said that a total of 366 cases have been filed with the regulator regarding violation of the competition Act in more than three years.

Out of such cases, the fair trade watchdog closed 223 cases saying 'no violation of provisions was found' in these matters. Further, CCI issued 'cease and desist' orders in 11 cases.