Competition Commission of India
A competition regulator is generally a statutory authority with the mandate to enforce competition law (also called antitrust law in some countries such as USA) and may sometimes also enforce consumer protection laws. Competition regulators may regulate anti-competitive agreements including cartels as well as abuse of dominant position in the markets. They also regulate certain aspects of mergers and acquisitions of business and often undertake advocacy also to promote competition culture. There are more than hundred such regulators in the world with USA and European Commission being two major jurisdictions, among others.
Competition Act, 2002 was passed in January 2003. Competition Commission of India (CCI) was set up in October 2003 to implement this law. However, legal challenge prevented full constitution and enforcement and only advocacy function was notified. CCI was duly established on 1.3.2009 as an autonomous independent body comprising Chairperson and six members. An appellate body called Competition Appellate Tribunal was also set up on 20.5.2009 with final appeal to Supreme Court of India. CCI is thus, a fully empowered body today and Indian Competition Law has fully come into force.
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. The Commission is also required to give 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.
- Competition Commission of India website http://www.cci.gov.in/