Competition Commission of India recovers just Rs 1,000 crore of Rs 12,000 crore penalties so far

NEW DELHI: Competition Commission might have slapped penalties close to Rs 12,000 crore on entities violating fair trade norms but the regulator has so far managed to recover less than one-tenth of the total amount.

Competition Commission of India ( CCI) has recovered just about Rs 1,000 crore penalty amount whereas the total imposed is nearly Rs 12,000 crore on various entities, its chairman Ashok Chawla said today.

The recovery has been poor as companies took "the subject to courts to deliberately delay the payments of recoveries", Chawla was quoted as saying in a statement.

He was speaking at a session organised by industry body PHD Chamber of Commerce and Industry.

Responding to a query related to mergers and acquisition, he said the Commission intervenes only in those deals that could lead to monopolistic tendencies and cartelisation.