Abstract

Given the numerous ongoing anti-trust cases, it is crucial for India to enhance and accelerate its anti-trust resolution system. The Indian Government has taken a commendable step by passing the Competition Amendment Act, 2023 . This act aligns India with worldwide standards by introducing the "Settlement and Commitment Mechanism". The addition of these two new instruments to the enforcement mechanism arsenal of the Competition Commission of India aims to facilitate prompt intervention and resolution of anti-trust matters, thereby providing relief to both consumers and enterprises, and ultimately benefiting the economy as a whole. This would additionally contribute to the decrease in administrative expenses. The Competition Law Review Committee's report emphasized that the main reasons for introducing the settlement and commitment mechanism are to achieve procedural economy and efficiency in enforcement . Implementing these measures will enable CCI to expedite the resolution of anti-trust proceedings, resulting in increased efficiency and reduced expenses. Businesses would also benefit from expedited investigations and reduced ambiguity. Essentially, this method would serve to enforce new measures that discourage the guilty party, while also ensuring fair solutions for the victims. Similar practices are already implemented in various other jurisdictions, including the European Union, Japan, Singapore, United and Germany. This article explores the newly introduced provisions of “Settlement and Commitment” in Indian Competition Act and their potential impact on competition enforcement. This paper aims to study the Settlement and commitment system introduced under Section 48A and Section 48B of Competition (Amendment) Act, 2023 in-depth. The paper shall also touch upon the similar systems present in the legislative framework of EU, UK and pave the way for Indian Commitment and Settlement Mechanism.

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