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The Competition Commission of India (CCI) will convene a meeting of CEOs of the country’s top 100 companies early next year.
“I propose to have a meeting, sometime in the first quarter, or as early as January, with the CEOs of top 100 companies, at the level of CEOs or at the most deputy CEOs, to tell them that they need to put in place compliance process,” CCI chairman Ashok Chawla said in a seminar organised by PHD Chamber.
He said he will also meet major trade associations in December. The reason for engaging associations is the fact that several of these bodies are falling foul of the competition law.
Recently, the fair trade regulator had imposed penalties on some retailers’ associations in the pharmaceutical sector.
Admitting that there is a problem of too many regulators in the country, Chawla expressed hope that issues over regulatory powers would be sorted out gradually.
“(There) is the issue or difficulty or problem of what I could call ‘one regulator too many’. There are sectoral regulators. There is competition commission. Many of them came before the Competition Commission...,” he said.
On the investigation in alleged cartelisation among airlines in fixing airfares, he said the CCI will take a decision after getting more information on the issue. Recently, Captain Gopinath, the pioneer of low-cost airlines in the country, had talked about cartelisation in air fares.
“We have taken a note of what he said. So, we have asked him to share whatever information he has... He has asked for a meeting (with me). We are awaiting further inputs from him before we take another look at this matter,” Chawla said. The CCI had looked into this issue but no evidence of carterlisation was found. “The decision of the commission was that movement in air fare was due to demand and supply factors, which go up or down at different points of time,” he said.
Chawla also said the commission has received information on same person heading NMDC and SAIL. SAIL chairman CS Verma is also the head of NMDC, a scenario which is allegedly anti-competitive.