Competition Commission imposed Rs 12,918 cr penalty in 327 cases

New Delhi, Dec 9 (IANS) The Competition Commission of India (CCI) has imposed a penalty of Rs 12,918 crore in 327 cases in less than four years, Parliament was told on Friday.

CCI has imposed a penalty of Rs 12,917.63 crore in 327 cases from 2013-14 onwards till October this year, Corporate Affairs Minister Arun Jaitley told the Lok Sabha in a written reply.

“Penalty of Rs 10,454.08 crore has been stayed by Competition Appellate Tribunal/High Court/ Supreme Court, while penalty of Rs 2,427.90 crore has been dismissed by Competition Appellate Tribunal/High Court/Supreme Court,” he said.

Out of the amount of penalty imposed, an amount of Rs 29.49 crore has been realised and penalty of Rs 6.16 crore remains unpaid, Jaitley said, adding necessary actions are taken by CCI for recovery of penalties, as per provisions of the Competition Act, 2002.