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The Competition Act, 2002

Chapter VI — PENALTIES

Section 44Penalty for making false statement or omission to furnish material information

Read in the full Act
Section 44: Penalty for making false statement or omission to furnish material information

44. Penalty for making false statement or omission to furnish material information

If any person, being a party to a combination,—

(a)

makes a statement which is false in any material particular, or knowing it to be false; or

(b)

omits to state any material particular knowing it to be material, such person shall be liable to a penalty which shall not be less than rupees fifty lakhs but which may extend to rupees one crore, as may be determined by the Commission.