New Delhi: The federal government has appointed senior civil servant Ravneet Kaur because the chairperson of Competitors Fee of India (CCI), two individuals conscious concerning the growth mentioned citing an official order.
Kaur belongs to the 1968 batch of Indian Administrative Service officers. As per data obtainable, Kaur is at present serving as further chief secretary within the Punjab authorities.
Kaur has been appointed for a interval of 5 years or until she reaches the age of 65, one of many individuals quoted above mentioned on situation of anonymity.
With the appointment, the competitors watchdog will get a serious impetus because it helps fulfill the requirement of getting three members to adjudicate on issues. CCI has been unable to situation orders, besides within the case of mergers and approvals, for not with the ability to meet quorum requirement.
The federal government can be within the strategy of hiring extra members to CCI anticipating future retirement of members within the Fee in order that there isn’t any regulatory hole.
The highest publish at CCI fell vacant after Ashok Kumar Gupta demitted the chairman’s workplace on 25 October 2022, having accomplished his four-year time period. Later the federal government gave member Sangeeta Verma the cost of performing chairperson and in addition invited functions for 3 extra members. CCI has to have a chairperson and never lower than two and no more than six different members, as per the Competitors Act.
With the federal government stepping up the regulatory mandate of CCI with the most recent amendments to the legislation, including extra manpower and infrastructure to CCI has turn into necessary. The amendments to Competitors Act earlier this yr has introduced sure transactions assembly specified worth threshold of acquisitions underneath CCI’s purview. Additionally, CCI is now empowered to get into negotiated settlements with companies and different events in circumstances of anti-competitive agreements and abuse of dominance.
Up to date: 16 Could 2023, 11:08 AM IST