image

CCI issues show cause notice to NSE for alleged violation of Competition Act

The MCX-SX in its representation to the CCI in November 2009 had alleged that NSE had substantially reduced admission and trade related fees to eliminate competition and discourage other entities from entering the market. MCX-SX is promoted by commodity exchange MCX and Financial Technologies .
Based on this complaint, the CCI had ordered a probe into the alleged misuse of dominant position by the NSE.
Competition Commission of India (CCI)  has issued a show cause notice to the National Stock Exchange (NSE) asking why a penalty should not be imposed for its unfair trade practices in connection with currency derivatives trading .

The commission has found NSE guilty of violating Section 4 of the Competition Act, which is abuse of dominant position. The Competition Commission of India (CCI) has sent the show cause notice to NSE before deciding on the quantum of fine to be slapped on it.  Usually the CCI gives companies 15-20 days time to reply on notices.

Under the law, companies can be fined up to 10 per cent of their three year average profit.

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

23 responses to “CCI issues show cause notice to NSE for alleged violation of Competition Act”

  1. Annemarie says:

    We absolutely love your blog and find almost all of your post’s
    to be precisely what I’m looking for. Would you offer guest writers
    to write content for you? I wouldn’t mind writing a post or elaborating on some of the subjects you write in relation to here.
    Again, awesome web log!

  2. Jaunita says:

    I’ve been browsing on-line greater than three hours nowadays, yet I never found any interesting article like yours.
    It’s pretty price enough for me. In my opinion, if all site owners
    and bloggers made just right content as you probably did, the net might be a lot more helpful than ever before.

  3. Kimani says:

    I’m not that much of a internet reader to be honest but your sites really nice,
    keep it up! I’ll go ahead and bookmark your site to come back later on. Cheers

  4. Hi, this weekend is pleasant in support of me, as this occasion i am reading this impressive informative article here
    at my house.

  5. Shakeitha says:

    you’re in reality a good webmaster. The website loading speed is incredible.
    It sort of feels that you’re doing any unique trick.
    Also, The contents are masterpiece. you have performed a magnificent job on this
    matter!

  6. Rishawn says:

    I was able to find good information from your blog posts.

  7. Taylah says:

    I’m gone to convey my little brother, that he should also pay a quick visit this webpage on regular basis to obtain updated from latest gossip.

  8. Stevie says:

    Have you ever considered writing an e-book or guest authoring on other sites?

    I have a blog centered on the same topics you discuss and would
    love to have you share some stories/information. I know my audience would value your work.
    If you’re even remotely interested, feel free
    to send me an e mail.

  9. Carlton says:

    I all the time emailed this web site post page to all my associates, since if like to read it afterward my contacts will too.

  10. Mariano says:

    Greetings I am so excited I found your blog, I really found you by
    error, while I was looking on Askjeeve for
    something else, Anyways I am here now and would just like to
    say thank you for a incredible post and a all round thrilling blog (I also love the theme/design), I don’t have time
    to go through it all at the moment but I have saved it and
    also included your RSS feeds, so when I have time I will be back to read a
    lot more, Please do keep up the superb work.

  11. Ciara says:

    Informative article, exactly what I needed.

  12. King says:

    Hello! Would you mind if I share your blog with my
    zynga group? There’s a lot of folks that I think would really
    enjoy your content. Please let me know. Cheers

  13. Pamela says:

    We stumbled over here by a different web page and thought I should check things out.
    I like what I see so i am just following you.

    Look forward to checking out your web page for a second time.

  14. Rosa says:

    Hello there! This post could not be written any better!

    Reading through this article reminds me of my previous roommate!
    He continually kept talking about this. I most certainly will forward this information to him.
    Pretty sure he’ll have a very good read. I appreciate you for
    sharing!

  15. Kasha says:

    Great article. I am dealing with a few of these issues as well..

  16. Linnea says:

    Its such as you learn my mind! You appear to understand so much approximately this,
    such as you wrote the book in it or something.
    I believe that you simply can do with some % to force the message home a
    little bit, but instead of that, that is excellent blog.
    A great read. I’ll certainly be back.

  17. Clement says:

    You need to take part in a contest for one of the most useful blogs online.
    I am going to highly recommend this blog!

  18. Myrtis says:

    Awesome website you have here but I was curious about if you knew of any forums that cover the
    same topics discussed in this article? I’d really love to be a
    part of group where I can get feedback from other knowledgeable individuals that share the same interest.

    If you have any suggestions, please let me know. Appreciate it!

  19. Rocco says:

    Hello There. I found your blog using msn. This is a really well written article.
    I’ll be sure to bookmark it and come back to read more of your
    useful information. Thanks for the post. I’ll
    certainly return.

  20. Margareta says:

    Hello There. I found your blog using msn. This is a very well written article.
    I will be sure to bookmark it and return to read more of your useful information. Thanks for
    the post. I will certainly comeback.

  21. Tayla says:

    I like the valuable information you supply
    to your articles. I will bookmark your weblog and check once more
    here frequently. I am moderately sure I will be informed plenty of new stuff right here!

    Good luck for the following!

  22. Alphonse says:

    Useful information. Lucky me I found your site by accident,
    and I am shocked why this twist of fate did not happened earlier!
    I bookmarked it.

  23. Domingo says:

    Thanks for finally talking about > CCI issues show cause notice to NSE for alleged violation of Competition Act – Corporate Law Reporter < Liked it!

Leave a Reply

Your email address will not be published. Required fields are marked *

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Recent Articles

Recent Legal updates

Recent Gst Updates