New competition law likely to open up settlement route for cartels

The proposed law however is not clear still on whether an application for settlements and commitments requires an admission of guilt

In a relief to industry, the government has accepted a parliamentary panel’s recommendation on allowing cartels to opt for the settlement scheme under the Competition Amendment Bill, according to official sources.

The proposed Bill seeks to introduce a clause for settlement and commitment that offers any enterprise against which an inquiry has been initiated to file an application for settlement.

The Parliamentary Committee on Finance had suggested including cartels in the scope for settlement “as a pragmatic recourse to the whole process”.

“A settlement provision for cartels on a case-by-case basis may be for the courts to decide. It does not require emphasis