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THE COMPETITION ACT, 2002

 
COMPETITION LAW
 
Competition Law and its Evolution
The Competition Act, 2002
The CCI
Inquiry process by CCI
Anti-Competitive Agreement
Abuse of Dominance
Unfair Trade Practice
Regulation of Combinations
FAQ on Competition Law in India
LAW RELATING TO START UPS
FOOD LAWS
INFORMATION TECHNOLOGY LAW
REAL ESTATE LAW
COMPANY FORMATION LAW
FDI LAW
TECHNOLOGY TRANSFER & JOINT VENTURE LAW
COMMERCIAL AGREEMENTS & CONTRACTS LAW
LAWS RELATING TO INSURANCE
LABOUR LAW
SPORTS LAW
MEDIA & COMMUNICATION LAW
TELECOMMUNICATION LAW
ECOMMERCE BUSINESS LAW
CORPORATE LAW FIRM
COMMERCIAL LAW FIRM
ENVIRONMENT LAW
GAMBLING LAWS
 

The various objectives of the Act are:

• To prevent practices having adverse effect on competition,

• To promote and sustain competition in markets,

 • To protect the interests of consumers,

• To ensure freedom of trade carried on by other participants in markets

 

The aforesaid objectives are not exhaustive and it is quite evident from the ending words of the Preamble of the Act i.e. “for matters connected therewith or incidental thereto” which gives wide discretionary powers to the CCI in this regard.

 

The Supreme Court of India in the case of Competition Commission of India v. Steel Authority of India & Anr. (Civil Appeal No.7779 of 2010), observed that 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. 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.

 

Scope of the Act - The Competition Act, 2002 covers three areas:

  1. Anti-competitive Agreements;

  2. Abuse of Dominant Positions by Enterprises, e.g. Predatory pricing, barriers to entry;

  3. The Regulation of Mergers & Acquisitions;

For more information on types of The Competition Act, 2002, please write to us at info@ssrana.com

 

 

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