New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    As per the Competition Act, the Commission also has the

    power to impose a fine which may extend to _________of the total turnover or the assets of the combination, whichever is higher, for failure to give notice to the Commission of the combination.
    A 2% Correct Answer Incorrect Answer
    B 1% Correct Answer Incorrect Answer
    C 0.5% Correct Answer Incorrect Answer
    D 3% Correct Answer Incorrect Answer

    Solution

    Section 43A. Power to impose penalty for non-furnishing of information on combinations—If any person or enterprise who fails to give notice to the Commission, the Commission shall impose on such person or enterprise a penalty which may extend to one per cent. of the total turnover or the assets, whichever is higher, of such a combination.

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