Not following competition law could be extremely costly, says Chawla

New Delhi, Jul 2 (KNN)  The cost of non-compliance of Competition Laws are extremely high, Chairman of Competition Commission of India, Ashok Chawla said here, advising the industry to follow rules of the game.

Asking industry to inculcate competition, Chawla said, “There are penalties and fines for non-compliance. The companies also lose credibility if found violating the Competition Compliance. So, the costs of violations are extremely high. There are no formulas defining the violations but there are host of factors derived from the behavioural aspects.”

Chawla was addressing a conference titled, Boosting Competition Compliance – Tackling Challenges, organised by the Confederation of Indian Industry recently.

The Competition Commission of India will soon come up guidelines for competition compliance and put them on the public domain to create awareness among corporates and all levels of management.  (KNN Bureau)