Competition Commission of India (CCI) along with Confederation of Indian Industry (CII) is organizing a ‘Roadshow on Competition Law’ on Monday, 15 October 2018 in Mumbai.
The Indian Institute of Corporate Affairs (IICA) is the Implementation Partner to the Roadshow.
Mr. Sudhir Mital, Chairperson, Mr. Augustine Peter and Mr. U. C. Nahata, Members, Ms. Smita Jhingran, Secretary and Senior Officials of CCI have confirmed their presence at the Roadshow. Mr. Injeti Srinivas, Secretary, Ministry of Corporate Affairs has also confirmed to address the Inaugural Session of the Roadshow.
During the day-long Roadshow, there will be open house sessions, display of various kiosks and screening of films etc. The discussions during the day-long event would be aimed to help industry understand the perspective and challenges of the competition regime on balancing competition concerns, especially in insolvency proceedings. The Roadshow also aims to highlight various initiatives undertaken by the CCI to create and sustain fair competition in the economy, that will provide a ‘level playing field’ to producers and make markets work for the welfare of consumers.
The day-long Roadshow will be attended by participants from the industry; legal professionals, corporate lawyers, academics, law students and relevant stakeholders who would deliberate and interact during various open house sessions in the Roadshow and also take part in the exhibition, display of kiosks highlighting CCI educations material, screening of films etc., all as part of the ongoing advocacy initiatives of the CCI.
The open house sessions in the Roadshow would include the following issues for deliberation:
Cartels and Leniency
a. Cartels: Detection and Enforcement
i. Effective Implementation of Lesser Penalty Regulations
c. Dawn raids – Perspectives
d. Effective Compliance and Competition Culture
- Merger Control
a. Navigating the merger review process
b. Common minority ownership – Challenges
c. Effective Remedies
d. Gun jumping: Evolution in motion
e. Mergers and Insolvency
The Roadshow comes as a part of the joint initiative of the CCI and CII to advocate compliance with competition law as one of the business and legal enablers in the country. The Commission has a stated mandate to create awareness and impart training about competition issues and has been undertaking measures to encourage voluntary compliance of competition law and create a culture of competition among stakeholders.
The Commission was established in 2003 under the Competition Act, 2002 to prevent practices having adverse effect on competition, promote and sustain competition in markets, protect interests of consumers and ensure freedom of trade carried on by other participants in markets in India. During the past years, CCI has successfully established itself as a credible institution for redressal of competition related concerns and conducted around 500 advocacy events.
On the global front, CCI has effectively engaged itself with international community including ICN, OECD, UNCTAD, EU etc. The regulatory regime of competition law has evolved brilliantly under the Commission’s leadership with constant upgradation of laws; evolving jurisprudence, merger regulations and leniency regulations. To help enterprises in developing a competition culture, a Compliance Manual for Enterprises has been launched. In addition, Do It Yourself (DIY) Online Guidance System for determining notifiability of merger & acquisitions been launched envisaging a staged process to guide stakeholders in determining notifiability to CCI.
CII works on policy initiatives with CCI and based on industry inputs and recommendations, the ‘Combinations Regulations’ as they stand today are a much enhanced version of the ones earlier envisaged. CII and industry members have contributed extensively on advocating with the Regulator on the need for clarity on a number of issues including merger notification thresholds; exemptions from notification; streamlined disclosure requirements, issuance of guidance notes to assist parties in preparation of notifications and further streamlined the process of pre-merger informal consultation – now formalized into the DIY toolkit.
Further, CII has been working with the Commission to promote willful compliance of law by creating a competition culture amongst its industry members. Providing vital inputs during various stages of the evolution of the Competition law, as a proponent of healthy competition, CII has all along maintained that while there should be regulation of market fair-play, the legal framework should not impede the steady growth of the economy.
Highlighting CCI initiatives, the Roadshow shall provide a platform for vital dialogue between the ‘regulator’ and the ‘regulated’ so as to enable the Commission to present its perspectives and views on latest developments in the competition enforcement while providing an opportunity to make industry aware of the issues that corporates face, with an ultimate motive of engagement with stakeholders to ease of doing business in India.
11 October 2018