29th January
The Delhi High Court has held that officers or directors of a company can be proceeded against for violation of Sections 3 and 4 of the Competition Act, dismissing the plea that directors are punishable only where CCI order is not obeyed.
It stated that it would be an anathema if officers/directors could not be punished.
Court in Mahyco Monsanto Biotech v. CCI refused to refer the case to the Larger Bench and upheld the interpretation that Section 48 can be invoked against individual officers or directors to investigate their role and conduct of offences under Sections 3 and 4 and punishable by order under Section 27.