Strengthening efforts to curb unfair trade practices, the Competition Commission is looking at the role of directors and key officers at entities suspected of indulging in anti-competitive practices.
The Competition Commission of India (CCI) has the mandate to keep a tab on unfair trade practices at market place.
"We have the powers to levy penalties not only from the companies (violating competition norms) but also from directors and officers, the key persons...," CCI member Anurag Goel said today.
He said that the Commission did not enforce this power in the first three years.
The provisions of the Competition Act related to anti-competitive agreements and abuse of dominant position were notified by the Corporate Affairs Ministry in May 2009.
"So far, in the first three years, we did not enforce that, now we are... We are asking the Director General,
if you find violations, investigate the directors and officers also," Mr Goel said at a conference here.
In cases where it finds prima facie evidence of unfair practices, the Commission refers them to its investigation arm Director General (DG) for a detailed probe.
The watchdog has slapped penalties on entities such as associations and cement manufacturers for violating competition norms.
However, Mr Goel emphasised that levying penalty on entities is not the objective.
"... The objective is fair trade and competition in the market," he added.
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