Competition Act 2002: An Overview at Indian Perspective
Keywords:
Competition Act, combinations, anti-competitive agreements, regulations, abuse of dominanceAbstract
Competition is the pioneer to accomplishment. At the point when markets buckle down there is maintainability, profits, effectiveness, advancement and enduring benefits to the economy. The Competition Act is one such enactment which target to get rid of anticompetitive practices through prevention of anti-competitive agreements and maltreatment of predominance circumstances in marketplace. This paper means to consider the fundamental aspects of the Competition Act by discussing primary concepts in an exact way. Making consumer aware in the field of Competition Law is an absolute necessity since most of the time consumers don't know about the impacts of such practices and neglect to understand the monopoly of market. Inside this time of evolution, competition law and policy in India has seen an active interpretational exercise.
References
1. Indian Competition Law (2000). Report of the High Level Committee on Competition Policy and Law from https://theindiancompetitionlaw.files.wordpress. com/2013/02/report_of_high_level_ committee_on_competition_policy_law_svs_raghavan_committee.pdf
2. Refer to Civil Appeal No 4157 of 2015 [Kerala Bar Hotels Association v. State of Kerala 2015 SCC Online SC 1385] & [(2007) 10 SCC 306 Udai Singh Dagar and others v. Union of India and others].
3. The Competition Act, 2002, p. 1 (Introduction).
4. Anurag K. Agarwal, Competition Law in India: Need to Go Slow and Steady (IIM Ahmedabad, Working Paper No. 2005 –10–05) available at http://www.iimahd.ernet.in/publications/ data/2005–10–05anurag.pdf
5. Notified on May 20, 2009 (approximately six years from the notification of the Act —Much of this delay has to be attributed to the judicial challenge to the powers of the Chairman of CCI which led to a major amendment in 2007).
6. Notified on June 1, 2011 (approximately eight years from the notification of the Act).
7. AIR 1986 SC 1099
8. Explanation (a) to Section 4
9. Section 4(1)(a)
10. Section 5 of The Competition Act, 2002
11. Section 6 of The Competition Act, 2002
12. S. Chakravarthy, The Need and Rationale for and the Objectives of Competition Policy and Competition Law, available at http://www.circ.in/pdf/CPS06-Rationale-For-CompetitionPolicy- Law.pdf
