CCI proposes changes to confidential info sharing
The Competition Commission of India has proposed to amend the so-called "confidentiality ring" regime that governs the treatment of confidential information in its proceedings, seeking to streamline the processes and prevent any delays in disposal of cases. The regime, introduced in 2022, allows parties involved in a case to have access to confidential information or documents relating to other parties in an investigation to better defend themselves, subject to riders. The draft regulations released by the anti-trust regulator have set a time frame for seeking and granting access to confidential information. The CCI has proposed that the party seeking access to confidential information must request for setting up a confidentiality ring at the earliest. If such a request is made by a party after the receipt of the non-confidential version of the investigation report, it will be made within seven days, with a provision to give another 7 days, subject to conditions.
A party seeking confidentiality over the information or documents furnished by it will set out cogent reasons for such a treatment, the draft said. The party must specify the date on which such confidential treatment will expire on a self-certification basis.
The regulator has sought stakeholder comments on the draft proposals until March 27.
