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The amount of penalty for making a false statement to the "Competition Commission" by a person who is a party to a combination shall be between

The amount of penalty for making a false statement to the "Competition Commission" by a person who is a party to a combination shall be between Correct Answer 50 lakhs to 1 crore

The correct answer is 50 lakhs to 1 crore

Key Points Section 44 in the Competition Act, 2002:

Penalty for making false statement or omission to furnish material information

Penalty for making false statement or omission to furnish material information.—If any person, being a party to a combination,—

  • makes a statement which is false in any material particular, or knowing it to be false; or
  • omits to state any material particular knowing it to be material

such person shall be liable to a penalty which shall not be less than rupees fifty lakh but which may extend to rupees one crore, as may be determined by the Commission.

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