The CCI has opened its doors for comments from stakeholders on these draft proposals until March 27.
The Competition Commission of India (CCI) has proposed to amend the so-called "confidentiality ring" regime that governs the treatment of confidential information in its proceedings, seeking to streamline the processes and prevent any delays in disposal of cases.
The regime, introduced in 2022, allows parties involved in a case to have access to confidential information or documents relating to other parties in an investigation to better defend themselves, subject to riders.
Delays in enforcement proceedings are often caused by challenges in accessing confidential documents. By prescribing specific timeframes for requesting and granting access to such information, the CCI seeks to ensure that all parties have timely access to the necessary documents to defend themselves effectively.
The amendments also seek to clarify the conditions under which confidentiality may be established. Parties seeking confidentiality are now required to provide cogent reasons for their request and specify the duration for which the confidential treatment will be necessitated on a self-certification basis.
The introduction of these amendments could significantly influence the dynamics of competition law enforcement in India. By reducing the time spent on procedural formalities related to the accessibility of confidential documents, the CCI is poised to enhance the overall efficiency of antitrust proceedings.
Source: BNN
