Section 53N of CA, 2002 : Section 53N: Awarding Compensation
CA, 2002
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Explanation using Example
Imagine a scenario where a large corporation has been found guilty by the Competition Commission of India (CCI) for engaging in anti-competitive practices such as price fixing. As a result, several small businesses have suffered losses because they were unable to compete with the artificially low prices set by the corporation.
One of the affected small business owners learns about the decision of the CCI and believes they are entitled to compensation for the losses incurred due to the corporation's illegal activities. They decide to apply for compensation u...
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