Supreme Court's observations on the working of competition commission of India

In: Gagan, K. and Ramesh (2016) Supreme Court's observations on the working of competition commission of India. Asian Journal of Development Matters, 10 (1). pp. 96-98. ISSN 0976-4674

Abstract

India after independence planned its economy by way of mixed economic policy. Certain of the important business operations were placed under the monopoly of the Government through Public Sector Undertakings, while other businesses were allowed to be operated by the private players. The Monopolies Restrictive and Trade Practices Act, 1969 (MRTP Act) was used for combating monopolies. However, post-liberalisation era, a broader and progressive legislation that aimed at promoting market competition was felt necessary. After a decade of delay, Competition Act, 2002 passed and MRTP Act was repealed. However, the Competition Commission of India was established on 14th October, 2003 and it started functioning from the year 2009