Discuss the consequences of making false statement by a person being a party to combination under Competition Act, 2002.
CS Executive · Economic, Business and Commercial Laws · PYQS · June 2019
Discuss the consequences of making false statement by a person being a party to combination under Competition Act, 2002.
Answer & Explanation:
Section 44 of the Competition Act, 2002 provides that if any person, being a party to a combination, makes a statement which is false in any material particular, or knowing it to be false; or omits to state any material particular knowing it to be material, such person shall be liable to a penalty which shall not be less than rupees fifty lakhs but which may extend to rupees one crore, as may be determined by the Commission.
Topics: Competition Act, 2002
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