CCI drew Rs 840 cr in fines from 126 firms in last 3 years: Govt tells LS

The Competition Commission imposed a total penalty of over Rs 840 crore on 126 companies in the last three financial years for indulging in anti-competitive practices, Union Minister Anurag Singh Thakur said on Monday.

During 2016-17, the fair trade regulator levied a total fine of Rs 208.39 crore on 18 companies in 4 cases, while a fine totalling Rs 295.35 crore was imposed on 31 companies in 9 cases in 2017-18, the Minister of State for Finance and Corporate Affairs said in a written reply in the Lok Sabha.

The Competition Commission of India (CCI) in 2018-19 imposed a total penalty of Rs 337.1 crore on 77 companies in 17 cases, he added.

He also informed the House that the government constituted Competition Law Review Committee on October 1, 2018 to review the Competition Act, 2002 which has submitted its report with recommendations to strengthen the framework of cartel related provisions.

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