What is the duty of Competition Commission?
It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
Where is the Competition Commission?
New DelhiCompetition Commission of IndiaCommission overviewFormed14 October 2003Preceding CommissionMonopolies and Restrictive Trade Practices CommissionJurisdictionRepublic of IndiaHeadquartersNew Delhi3 more rows
Who are the members of Competition Commission of India?
Who's WhoNo.NameEmail Id1Jyoti [email protected]. K. D. [email protected]@cci.gov.in4Sachin [email protected] more rows
Who is the Chairman of Competition Commission?
Ashok Kumar GuptaCompetition Commission of India / Chairperson
What are important functions of Competition Commission of India?
Functions of CCI Undertake competition advocacy, create public awareness and impart training on competition issues. Ensure smooth alignment of sectoral regulatory laws and competition laws. Ensures that foreign companies abide by the country's competition laws.
Who is the head of Competition Commission of India?
Ashok Kumar GuptaCompetition Commission of India / Chairperson
What do you mean by Competition Commission of India?
The Competition Commission of India (CCI) was established in March 2009 by Government of India under the Competition Act, 2002 for the administration, implementation, and enforcement of the Act. Eliminate practices having adverse effect on competition. Promote and sustain competition. Protect the interests of consumers.
When was Competition Commission created?
1998The Competition Commission (Commission) is one of three independent statutory bodies established in terms of the Competition Act, No. 89 of 1998 (the Act) to regulate competition between firms in the market.
What are the objectives of competition law?
Objectives of the Competition Act,2002 The Act aims to establish the legal framework and mechanisms necessary to ensure that competition policies are followed, to prevent anti-competitive conduct, and to punish those who do so. The Act safeguards free and fair competition, as well as trade freedom.
When and why the Competition Commission of India was formed?
The CCI was established by the Vajpayee government, under the provisions of the Competition Act 2002. The Competition (Amendment) Act, 2007 was enacted to amend the Competition Act, 2002. This led to the establishment of the CCI and the Competition Appellate Tribunal.
What is competition fund?
( Competition Fund. —The Act provides for constitution of a “Competition Fund”, which shall comprise of all the government grants, monies received as costs from parties to proceedings before CCI, fees received and interest accrued thereto.
Is Competition Commission of India a statutory body?
Competition Commission of India (CCI) is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002, it was duly constituted in March 2009.
Does the Competition Commission still exist?
On 1 April 2014 the Competition Commission was replaced by the Competition and Markets Authority (CMA), which also took over several responsibilities of the Office of Fair Trading.
Is the Competition Commission part of the Government?
The Competition Commission is a statutory body constituted in terms of the Competition Act, No 89 of 1998 by the Government of South Africa empowered to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South ...
Who regulates competitions in the UK?
The Gambling Commission prevents illegal gambling and may act when free draws or prize competitions are being ran as illegal lotteries. If you are unsure about whether your free draw or prize competition is legal then you should seek legal advice.
Is there still a Monopolies Commission?
The MMC was replaced by the Competition Commission in 1999.
What is the purpose of competition law?
The main objective of competition law is to promote economic efficiency using competition as one of the means of assisting the creation of market responsive to consumer preferences . 12 The Competition Act is aimed at addressing the evils affecting the economic landscape of the country in which interest of the society and consumers at large is directly involved. One of the avowed objectives of the Act is to promote consumers’ welfare by preventing market distortions caused by such actions and agreements of the enterprises which militate against the competition and consumers’ interest. The competition law by its very nature envisages that there are situations where the Commission has a role and has to control behaviour of the enterprises in the market place in order to achieve consumer welfare. 13
What is the purpose of Section 18 of the Competition Act?
Section 18 of the Act which is in consonance with the preamble of the Act, casts an obligation on the CCI to ‘eliminate’ anti-competitive practices and promote competition, interests of the consumers and free trade. 14 The exercise of power under Section 18 is subject to other provisions of the Act. The aim of the Commission is the institution of a system of undistorted competition which is commensurate to the promotion of the interests of the consumer. 15 The preamble of the Competition Act and Section 18 mandates the Commission to “protect the interest of consumers” and it is important to ensure that consumers’ surplus is not adversely impacted. 16
Which section of the Act allows the Commission to inquire into any alleged contravention of Section 3 or Section 4?
As per Section 19 (1) of the Act, the Commission is empowered to inquire in to any alleged contravention of Section 3 or Section 4 either suo motu or on:
What is the research and editorial team?
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
What is statutory authority?
As per Section 2 ( w) “statutory authority” means any authority, board, corporation, council, institute, university or any other body corporate, established by or under any Central, State or Provincial Act for the purposes of regulating production or supply of goods or provision of any services or markets therefor or any matter connected therewith or incidental thereto. The Commission has taken up references from Enforcement Directorate 25, CAG 26, Chief Engineer of Railway Division 27, Material Manager, Railway Coach Factory. 28, etc. The DG will not be taken as a ‘statutory authority’ under S. 19 (1) ( b ). 29
What is Taxmann's Indian Competition Law?
Taxmann's Indian Competition Law is a section-wise commentary on Competition Law. What sets this book apart is the unique combination of the study of both substantive and procedural elements of Competition Law in India along with Case Laws from the Indian, EU, UK & USA Courts
Which countries have competition authorities?
Competition authorities of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa (BRICS Countries).
What is the role of the Commission in the competition?
The Commission is also required to give an opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.
When was the Competition Commission created?
The idea of Competition Commission was conceived and introduced in the form of The Competition Act, 2002 by the Vajpayee government. A need was felt to promote competition and private enterprise especially in the light of 1991 Indian economic liberalisation.
What was the CCI fine in 2012?
In June 2012, CCI imposed a fine of ₹63.07 billion (US$880 million) 11 cement companies for cartelisation. CCI claimed that cement companies met regularly to fix prices, control market share and hold back supply which earned them illegal profits.
How many members are in CCI?
CCI consists of a Chairperson and 6 Members appointed by the Central Government. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
What is the purpose of developing and nurturing effective relations and interactions with sectoral regulators?
Develop and nurture effective relations and interactions with sectoral regulators to ensure smooth alignment of sectoral regulatory laws in tandem with the competition law.
What is the purpose of fair and healthy competition in economic activities in the country?
Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of the economy.
What are the advantages of perfect competition?
The advantages of perfect competition are three-fold: allocative efficiency, which ensures the effective allocation of resources, productive efficiency, which ensures that costs of production are kept at a minimum and dynamic efficiency, which promotes innovative practices.".
What is the competition commission?
The Competition Commission is a statutory body established in 2009 to enforce the Competition Act 2007. This Act established a competition regime in Mauritius, under which the Competition Commission can investigate possible anticompetitive behavior by businesses. In its investigations, the Competition Commission has considerable powers ...
Who decides what to investigate and carries out the investigation?
The Executive Director of the Commission, supported by his staff, decides independently what to investigate and carries out the investigation. Decisions are then taken by five Commissioners, headed by a Chairman. The Executive Director is not a Commissioner.
What is competition commission?
The Competition Commission is a workplace that is challenging as well as inspiring. It is a place where individuals come in at different levels with different skill sets, aspirations and attitudes.
What is the fuel that drives our support services divisions?
Our commitment to excellence and passion is the fuel that drives our support services divisions. We are a young and developmental organisation that actively promotes a culture of learning.
Is the Competition Commission a good company?
The Competition Commission is a great working environment, with committed young professionals. All the employees have a positive working culture starting from management to the supporting staff
Overview
The Competition Act, 2002
Objectives
- As per Section 19(3) of the Competition Act, 2002, the Commission while determining whether an agreement has AAEC, shall have due regard to all or any of the following factors: (a)creation of barriers to new entrants in the market; (b)driving existing competitors out of the market; (c)foreclosure of competition by hindering entry into the market; (...
Composition
Notable cases
The idea of Competition Commission was conceived and introduced in the form of the Competition Act, 2002 by the Vajpayee government. A need was felt to promote competition and private enterprise especially in the light of 1991 Indian economic liberalisation.
The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse o…
See also
An Act to provide, keeping in view of the economic development of the country, for the establishment of a Commission to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India, and for matters connected therewith or incidental thereto.
External links
The commission comprises a chairperson and not less than two and not more than six other members appointed by the Central Government. Ashok Kumar Gupta is the current chairperson of the CCI. The members of the Competition Commission of India are:
1. Dr. Sangeeta Verma
2. Bhagwant Singh Bishnoi