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

CHAPTER VI PENALTIES 2 [42. Contravention of orders of Commission .—(1) The Commission may cause an inquiry to be made into compliance of its orders or directions made in exercise of its powers under the Act. (2) If any person, without reasonable clause, fails to comply with the orders or directions of the Commission issued under[3] [sections 6, 27, 28, 31, 32, 33, 42A, 43, 43A, 44 and 45 of the Act, he shall be liable to a penalty] which may extend to rupees one lakh for each day during which such non-compliance occurs, subject to a maximum of rupees ten crore, as the Commission may determine. (3) If any person does not comply with the orders or directions issued, or fails to[4] [pay the penalty imposed under sub-section (2)], he shall, without prejudice to any proceeding under section 39, be 1. Subs. by Act 9 of 2023, s. 26, for Explanation (w.e.f. 18-5-2023). 2. Subs. by Act 39 of 2007, s. 34, for section 42 (w.e.f. 20-5-2009). 3. Subs. by Act 9 of 2023, s. 27, for "sections 27, 28, 31, 32, 33, 42A and 43A of the Act, he shall be punishable with fine" (w.e.f. 18-5-2023). 4. Subs. by s. 27, ibid ., for "pay the fine imposed under sub-section (2)" (w.e.f. 18-5-2023). punishable with imprisonment for a term which may extend to three years, or with fine which may extend to rupees twenty-five crore, or with both, as the Chief Metropolitan Magistrate, Delhi may deem fit: Provided that the Chief Metropolitan Magistrate, Delhi shall not take cognizance of any offence under this section save on a complaint filed by the Commission or any of its officers authorised by it.] 1 [42A. Compensation in case of contravention of orders of Commission .—Without prejudice to the provisions of this Act, any person may make an application to the Appellate Tribunal for an order for the recovery of compensation from any enterprise for any loss or damage shown to have been suffered, by such person as a result of the said enterprise violating directions issued by the Commission or contravening, without any reasonable ground, any decision or order of the Commission issued[2] [under sections 6, 27], 28, 31, 32 and 33 or any condition or restriction subject to which any approval, sanction, direction or exemption in relation to any matter has been accorded, given, made or granted under this Act or delaying in carrying out such orders or directions of the Commission.] 3 [43. Penalty for failure to comply with directions of Commission and Director General .—If any person fails to comply, without reasonable cause, with a direction given by— (a) the Commission under sub-sections (2) and (4) of section 36; or - (b) the Director General while exercising powers referred to in sub-section (2) of section 41, such person[4] [shall be liable to a penalty] which may extend to rupees one lakh for each day during which such failure continues subject to a maximum of rupees one crore, as may be determined by the Commission.] 5[ 43A. Power to impose penalty for non-furnishing of information on combination .—If any person or enterprise fails to give notice to the Commission under sub-section (2) or sub-section (4) of section 6 or contravenes sub-section (2A) of section 6 or submit information pursuant to an inquiry under sub-section (1) of section 20, the Commission may impose on such person or enterprise, a penalty which may extend to one per cent., of the total turnover or assets or the value of transaction referred to in clause (d) of section 5, whichever is higher, of such a combination: Provided that in case any person or enterprise has given a notice under sub-section (4) of section 6 and such notice is found to be void ab initio under sub-section (6) of section 6, then a notice under sub-section (2) of section 6 may be given by the acquirer or parties to the combination, as may be applicable, within a period of thirty days of the order of the Commission under sub-section (6) of that section and no action under this section shall be taken by the Commission till the expiry of such period of thirty days.]