NEW DELHI, Aug 16: Undeterred by criticism from corporates and others having faced its penal actions, fair trade regulator CCI Chairman Ashok Chawla has said regulators are not in the business of “popularity contest”.
The Competition Commission of India (CCI), which has passed many significant rulings in recent times, has faced criticism from various quarters including concerns of alleged regulatory overreach.
CCI has also slapped penalties and ‘cease and desist’ orders against a number of large corporates, many of whom have retorted saying the regulator was making it difficult to do business in the country.
“We are not unduly bothered by these kind of things — either criticism or perceptions. We are just doing our jobs. We are here to do our jobs.
“In any case, regulators cannot be and should not look for any kind of popularity. We (regulators) are not in the business of a popularity contest,” Chawla told PTI in an interview here.
While acknowledging that there is bound to be some opposition to “robust regulatory interventions”, Chawla emphasised that CCI’s actions are not a matter of regulatory overreach although it may be new to the enterprises.
CCI is one of the youngest regulators in the country and it is mandated to ensure fair competition across the sectors and keep a check on cartelisation and abuse of market dominance among other violations by way of mergers and acquisitions.
Chawla said criticism of regulators is not something unique to India and should settle over time.
“These things will settle with passage of time. The acceptance or the fact that there are these new institutions which have a role to play slowly getting into the psyche of businesses,” he said.
Chawla further said since regulators are specifically empowered to do a specific job, it is very likely that they would pursue matters more actively and vigorously.
“I don’t think it is a matter of regulatory overreach per se but it is an issue which is new to enterprises.
“Where they are coming across a new body of ‘sheriffs on the block’ so to speak who are monitoring their activities and looking at everything which they do, keeping in mind the mandate they have, I think that could be an issue which bothers them but I don’t think it is an issue of regulatory over reach,” Chawla said.
When asked whether entities are trying to cover up their violations by making allegations against regulators, Chawla said, “I don’t really know but it is general human tendency.
“Starting from school children to adults and corporates, you blame them for something then you find fault with the person who is trying to pin you down.”
In recent times, the fair trade regulator has passed some significant rulings including those related to real estate players, cement firms, auto makers and insurance companies. (PTI)
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