Modern Antitrust Law
Competition law, also known as antitrust law, focuses on regulating market participants to safeguard competition. It tackles issues like cartels harming consumers, mergers reducing competitors, and abuse of dominant market positions. Significant acts like the MRTP Act and Competition Act have played crucial roles in shaping competition law in India, addressing economic power concentration, monopolistic trade practices, and restrictive trade behaviors. However, loopholes and ambiguities persist, challenging effective enforcement.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
A ntitrust L aw A ditya B hattachrjea
D E F IN IT IO N M odern competition law is known as anti trust law It is primarily concerned with the prohibition or regulation of market participants that might have adverse effects on competition. Includes mergers and agreements . (a)H orizontal agreements (b)vertical agreements
C artels harm consumers. M ergers reduces number of competitors O bjective of antitrust law is to prevent market players from restricting competition T arget abuse of dominant position in the market C ompetition law protect vulnerable sections of society from anti competitive behaviour of powerful firm.
M R T P A C T 1 9 6 9 -2 009 It covered three categories of competition (a) concentration of economic power (b) monopolistic trade practices (c)restrictive trade practices promoting competitions one of the many objectives of M R T P A C T and corrective measures were similar to those of license permit control raj 1 9 8 4 amendment act inserted a new chapter protect consumers from unfair trade practices(U T P S )
1 9 9 1 -2 007 : 7 cases decided by the commission three of which were dismissed for lack of evidence S ection 6 6 of competition act 2 002 has provision for the repeal of M R T P A C T M R T P A C T despite the promising start in 1 9 7 0 s can't perform up to the expectation A mendments of 1 9 8 4 & 1 9 9 1 in M R T P A C T closed the doors of competition analysis and diverted it from anti trust mandate.
T he C ompetition A ct 2 002 C ompetition act covers (a) anti competitive agreements between firms (b) abuse of dominance by single a single firm (c) mergers, amalgamations or acquisitions of control. T his act is improvement over M R T P A C T (a) doesn't deal with unfair trade practices (b)abuse of dominance and combination to be decided by C C I (C ) A sserts jurisdiction against foreign cartels (d) C C I can call outside expert and undertake advocacy.
L oopholes and ambiguities in competitions act T he act allows C C I to take into account relative advantage by the way of contribution to economic development T he act require more analysis and greater discretionary power to C C I. T he acts P rovisions on abuse of dominance is ambiguous R evival of merger review is controversial C onflict with sectoral regulators like T R A I etc Issues of expertise in the implementation of the act.
C onclusion C C I and C O M P A T has made a good beginning. C O M P A T has cleared M R T P cases while C C I has made a prima facie case of predatory pricing against N ational S tock E xchange In order to establish robust competitive environment in India proactive engagement with all stakeholders including consumers, industry and government and international jurisdiction is required.
