Mrtp Act 1969
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MRTP ACT 1969
10/04/09
INDIAN BUSINESS ENVIRONMENT
1
INTRODUCTION
The Monopolistic and Restrictive Trade Practices Act, 1969, was enacted
To ensure that the operation of the economic system does not result in the concentration of economic power in hands of few., To provide for the control of monopolies., To prohibit practices.
10/04/09
monopolistic
and
restrictive
INDIAN BUSINESS ENVIRONMENT
trade
2
Unfair Trade Practice Misleading advertisement and False Representation Falsely representing that goods and services are of a particular standard, quality, grade, composition or style. Falsely representing any second hand renovated or old goods as new. Representing that goods or services, seller or supplier have a sponsorship, approval or affiliation which they do not have.
10/04/09
INDIAN BUSINESS ENVIRONMENT
3
Making a false or misleading representation concerning need for, or usefulness of goods or services.
Giving to public any warranty, guarantee of performance that is not based on an adequate test or making to public a representation which purports to be such a guarantee or warranty. Giving false or misleading facts disparaging the goods, services or trade of another person or concern.
10/04/09
INDIAN BUSINESS ENVIRONMENT
4
Restrictive Trade Practice:
To maximize profits and market power, traders often attempt to indulge in certain trade practices which tend to obstruct the flow of capital into the stream of production. It may also bring manipulation of prices or conditions of delivery or affect the flow of supplies in the market so as to impose unjustified costs.
10/04/09
INDIAN BUSINESS ENVIRONMENT
5
RELIEF AVAILABLE The commission shall if after making an inquiry it is of the opinion that the practice is prejudicial to the pubic interest, or to the interest of any consumer it may direct that– The practice shall be discontinued or shall not be repeated; The agreement relating thereto shall be void in respect of such restrictive trade practice or shall stand modified. The Commission may permit the party to any restrictive trade practice to take steps so that it is 10/04/09 no longer prejudicial INDIAN BUSINESS to theENVIRONMENT public interest
6
10/04/09
INDIAN BUSINESS ENVIRONMENT
7
10/04/09
INDIAN BUSINESS ENVIRONMENT
1
INTRODUCTION
The Monopolistic and Restrictive Trade Practices Act, 1969, was enacted
To ensure that the operation of the economic system does not result in the concentration of economic power in hands of few., To provide for the control of monopolies., To prohibit practices.
10/04/09
monopolistic
and
restrictive
INDIAN BUSINESS ENVIRONMENT
trade
2
Unfair Trade Practice Misleading advertisement and False Representation Falsely representing that goods and services are of a particular standard, quality, grade, composition or style. Falsely representing any second hand renovated or old goods as new. Representing that goods or services, seller or supplier have a sponsorship, approval or affiliation which they do not have.
10/04/09
INDIAN BUSINESS ENVIRONMENT
3
Making a false or misleading representation concerning need for, or usefulness of goods or services.
Giving to public any warranty, guarantee of performance that is not based on an adequate test or making to public a representation which purports to be such a guarantee or warranty. Giving false or misleading facts disparaging the goods, services or trade of another person or concern.
10/04/09
INDIAN BUSINESS ENVIRONMENT
4
Restrictive Trade Practice:
To maximize profits and market power, traders often attempt to indulge in certain trade practices which tend to obstruct the flow of capital into the stream of production. It may also bring manipulation of prices or conditions of delivery or affect the flow of supplies in the market so as to impose unjustified costs.
10/04/09
INDIAN BUSINESS ENVIRONMENT
5
RELIEF AVAILABLE The commission shall if after making an inquiry it is of the opinion that the practice is prejudicial to the pubic interest, or to the interest of any consumer it may direct that– The practice shall be discontinued or shall not be repeated; The agreement relating thereto shall be void in respect of such restrictive trade practice or shall stand modified. The Commission may permit the party to any restrictive trade practice to take steps so that it is 10/04/09 no longer prejudicial INDIAN BUSINESS to theENVIRONMENT public interest
6
10/04/09
INDIAN BUSINESS ENVIRONMENT
7
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