Presentation On Competition Act

and Objectives In the pursuit of globalization, India has responded by opening of its economy, removing controls and resorting to liberalization. The natural corollary of this that the Indian market should be geared to face competition from within the country and from outside. The MRTP Act. 1969 had become obsolete and was choking the economy. The

• To prevent practices having adverse effect on competition. • To promote and sustain competition in market • To protect the interest of consumers • To ensure freedom of trade carried on by other

Prohibition of Agreements • Sec. 3 provides for prohibition of

entering into anti-competitive agreements. • It shall not be lawful for any enterprise or association of enterprises or person or association of persons to enter into an agreement in respect of production, storage, and distribution of goods which causes an appreciable adverse effect on competition with India.

Abuse of Dominant • Sec.4 prohibits abuse of dominant position Position by any enterprise. • Such abuse of dominant position , inter alia, includes imposition, either directly or indirectly, of unfair purchase or selling prices. • Sec.5 deals with combination of enterprises and persons. • Acquisition of one or more enterprises by one or more persons or acquiring of control or merger or amalgamation of enterprise under certain circumstances specified.

Regulation of Combinations • No person or enterprise shall enter

into a combination which causes appreciable adverse effect on competition within the relevant market in India and such a combination shall be void[Sec.6(1)] • Exemption. Any person or enterprise, who or which proposes to enter into a combination, may, at his or its option, give notice to the Competition Commission of India.

Competition Commission of Establishment of commission India

With effect from such date as the Central Govt. may appoint, there shall be established, for the purposes of this act, a commission to be called the “Competition Commission of India” [Sec.7(1)] Corporate body. The commission shall be body corporate by the name Competition Commission of India

Duties, Powers and Functions of Commission • Eliminate practices having adverse

effect on competition • Promote and sustain competition • Protect the interest of customers • Ensure freedom of trade carried by other participants, in markets in India • Power to grant interim relief (Sec.33) • Power to award compensation (Sec.34) • Power of commission to regulate its own procedure