What is the role of the Competition Commission of India (CCI)?
In the 1990s, the changing business dynamics globally forced the Union government to take a close look at the MRTP Act. In October 1999, the Raghavan Committee on Competition Policy and Law was appointed to chalk out a blueprint for a modern competition law. Acting on its report,the Government framed the Competition Act, 2002, as the successor to the MRTP Act. Under the Competition Act, the Competition Commission of India is the nodal body for discouraging practices that have an adverse effect on competition, protecting consumers, and ensuring freedom of trade carried on by other participants in India. But, although CCI was established in October 2003, it could not become functional because of a petition before the Supreme Court challenging some provisions of the Competition Act. The apex court has now disposed off the petition, paving the way for the formal notification of the Act. What are the powers of CCI? At present, CCI is a virtual tiger, toothless to boot. First, its powers hav
