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.

Q: Answer-As per the Competition Act, the Commission also has the power to impose a fine which may extend to _...

Section 43A. Power to impose penalty for non-furnishing of information on combinationsIf 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.