Competition Law Enforcement Starts in India

Article by MM Sharma, Head Competition Law & Policy Practice, Vaish Associates, Advocates, New Delhi, India

Contents

• Introduction
• Competition Act 2002
• Competition (Amendment) Act 2009
• Monopolies and Restrictive Trade Practices Commission Dissolved
• Part Enforcement Without Merger Control
• Competition Commission Fully Constituted
• Appellate Tribunal Passes First Order Against Competition Commission
• Sectors Lobby for Block Exemption
• Draft Regulations for Merger Control Likely to be Notified
• Penalties
• Comments by the Author

Introduction

In the wake of economic liberalization and widespread economic reforms introduced in 1991, and in its attempt to move from a 'command and control' regime to a regime based on free market principles, India decided to replace its then existing competition law - the Monopolies and Restrictive Trade Practices Act 1969, which was primarily designed to restrict the growth of monopolies in the market - with a