The Indian Competition Commission issues its first decision ruling that the collective decision of banks and housing finance companies to levy prepayment charges did not constitute a cartel (Neeraj Malhotra / Deustche Post Bank Home Finance)

On 2 December 2010, the Competition Commission of India (CCI) delivered its first decision under the Competition Act, 2002. By a majority of 4:2, the CCI decided that the collective decision of banks/housing finance companies (“HFCs”) to levy prepayment charges did not constitute a cartel. In this case, the Director General (DG) in his investigation report found that in a meeting of the members of the Indian Banks Association

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Sonam Mathur, The Indian Competition Commission issues its first decision ruling that the collective decision of banks and housing finance companies to levy prepayment charges did not constitute a cartel (Neeraj Malhotra / Deustche Post Bank Home Finance), 2 December 2010, e-Competitions Bulletin December 2010, Art. N° 36462

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