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    Slide1 Slide 2 What Is Competition Act

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    robin hood
    The Competition Act of 2002 governs Indian competition law and replaced the Monopolistic and Restrictive Trade Practices Act of 1969. The Competition Commission of India was established to prevent anti-competitive business practices and unnecessary government interference in the market. The objectives of the act are to protect consumer interests, promote healthy competition, prevent abuse of dominant positions, and ensure freedom of trade in Indian markets.

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    Slide1 Slide 2 What Is Competition Act

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    robin hood
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    The Competition Act of 2002 governs Indian competition law and replaced the Monopolistic and Restrictive Trade Practices Act of 1969. The Competition Commission of India was established to prevent anti-competitive business practices and unnecessary government interference in the market. The objectives of the act are to protect consumer interests, promote healthy competition, prevent abuse of dominant positions, and ensure freedom of trade in Indian markets.

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    The Competition Act of 2002 governs Indian competition law and replaced the Monopolistic and Restrictive Trade Practices Act of 1969. The Competition Commission of India was established to prevent anti-competitive business practices and unnecessary government interference in the market. The objectives of the act are to protect consumer interests, promote healthy competition, prevent abuse of dominant positions, and ensure freedom of trade in Indian markets.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views2 pages

    Slide1 Slide 2 What Is Competition Act

    Uploaded by

    robin hood
    The Competition Act of 2002 governs Indian competition law and replaced the Monopolistic and Restrictive Trade Practices Act of 1969. The Competition Commission of India was established to prevent anti-competitive business practices and unnecessary government interference in the market. The objectives of the act are to protect consumer interests, promote healthy competition, prevent abuse of dominant positions, and ensure freedom of trade in Indian markets.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Slide 2

    What is competition act

    The Competition Act, 2002 was enacted by the Parliament of India and governs Indian competition law.
    It replaced the The Monopolies and Restrictive Trade Practices Act, 1969. Under this legislation, the
    Competition Commission of India was established to prevent the activities that have an adverse effect
    on competition in India. It is a tool to implement and enforce competition policy and to prevent and
    punish anti-competitive business practices by firms and unnecessary Government interference in the
    market. Competition laws is equally applicable on written as well as oral agreement, arrangements
    between the enterprises or persons.

    Purpose of the act

     Enquire into Anti-Competitive Agreements [Section - 3]

     Enquire Abuse of Dominant Position [Section – 4]

     Regulation of Combination & Mergers [Section – 5 to 6]

     Undertake Competition Advocacy [Section – 49]

    Objective of the act

     To protect the interests of the consumers by providing them good products and services at reasonable
    prices.

     To promote healthy competition in the Indian market.

     To prevent the interests of the smaller companies or prevent the abuse of dominant position in the
    market.

     To prevent those practices which have adverse impact on competition in the Indian markets.

     To ensure freedom of trade in Indian markets.

     To regulate the operation and activities of combinations (acquisitions, mergers and amalgamation).

    Slide 3

    What is MRTP act

    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, and To prohibit monopolistic and
    restrictive trade practices.

    Introduction of the act

    India after independence adopted a centrally planned economic structure also referred as
    Nehruiwan socialism model, a model neither market economy nor socialist economy like of
    USSR. In such a system both public and private sector existed, the reason behind adopting such
    model was to ensure that government played vital role in capital formation of the country as well
    as to promote an inclusive economic growth and social justice. To promote this objective
    government reserved heavy and strategic industries under is domain, for e.g. mining, electricity
    etc.

    On the other hand, the private industries were subject to industrial (department and regulation act, 1951).
    With the passage of time, the licensing system resulted in the enormous power in the hands off
    government officials. The Nehruwian model needed few changes with the change on time. In the year
    1960 The Mahalanobis committee, was constituted under the edges of the financial department to find out
    the inequality in the distribution of income on the recommendation of this commission, in1964, a
    monopoly inquiry commission was committed to inquire the extent of concentration of power and
    economic wealth in the hands off private sector.

    The suggestion of commission suggested the passing of MRTP Act, 1969. MRTP or Monopolies
    restrictive trade practices Act, 1969 MRTP Act aimed at preventing

    objective of the act

    (a) Economic wealth concentration in few hands


    (b) Prohibition of monopolistic practices

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