CCI proposes reforms to “Confidentiality Ring” regime for environment friendly proceedings

The Competitors Fee of India (CCI) proposes to alter its “confidentiality Ring” regime that gives entry to commercially delicate and confidential data to authorised individuals appointed by the events throughout proceedings earlier than the Fee. 

The “Confidentiality Ring” idea was launched to permit events entry to confidential data/paperwork of different events throughout an investigation to defend themselves successfully.  

To make sure well timed and efficient disposal of issues, the CCI intends to prescribe timelines for accessing paperwork by means of the Confidentiality Ring, Submission of Undertakings on affidavit and so on. 

CCI’s newest transfer comes within the wake of events typically taking important time to complet necessities akin to submitting undertakings for being a part of the Confidentiality Regime, finishing up inspections and acquiring licensed copies. 

The Competitors Fee has now invited stakeholder feedback on draft modifications and given time until March 27 to ship of their views. 

In the meantime, CCI has additionally taken into consideration the inflation within the financial system and revised costs for finishing up inspections. 

It could be recalled that CCI had, in April 2022, launched the idea of a “confidentiality ring” to consolation the corporates sharing business data with the competitors watchdog.