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Home Knowledge Links

Corporate & Other Laws Competition Act

  • Identify risks that can violate competition law
    Jun 14, 2014
    Enterprises need to identify risks that could lead to violation of competition law, Competition Commission of India Chairman Ashok Chawla said.He was speaking at a conference organised by the Institute of Company Secretaries of India on Friday. “Competition law applies to all enterprises...it is ownership neutral and size neutral. It applies to all sectors,” Chawla said. He added, “The fundamental objective of Competition Law is to promote and sustain market competition as its rationale lies in the proposition that competition yields social benefits and therefore needs to be nurtured.
  • Government invites comments on draft competition policy
    Jan 11, 2012
    The Government has invited comments on draft National Competition Policy. This aims to create a framework of policies and regulations that will inform other policies to facilitate competitive outcomes in the market. A committee, constituted to draft the policy, has submitted its report. It has suggested providing a mechanism for fair pricing and inclusionary behaviour, particularly of public utilities. It also recommended review of all existing and new Acts, regulations or policies to correct where anti-competitive outcomes were noticed. Such a move would proactively promote competition principles. The report also talks about institutional separation among policy making, operations and regulatory wings of the Government. It suggests fair market regulation procedures either by public authorities, regulatory bodies or through self-regulatory mechanisms.
  • Competition Act needs amendment: CII
    Oct 25, 2011
    The Confederation of Indian Industry (CII) has said the Competition Act does not appropriately address the industry's concerns and needs to be amended for ensuring that M&A regulations promote growth. The industry body's appeal is particularly in regard to Sections 5 and 6 of the Competition Act, 2002, which mandates large companies to seek the Competition Commission of India's (CCI) nod before going ahead with merger or acquisitions. "We believe that the current provisions of the competition law do not adequately address the concerns of the industry, especially with regard to the regulation of combinations. We have highlighted the issues in the past too and again request for an amendment of the Competition Act to make it conducive to the industrial and economic growth of the country," CII Director General Chandrajit Banerjee said.
  • Effective enforcement of competition law
    Jun 29, 2011
    Through an interim order, the Delhi High Court has stopped the Competition Commission of India (CCI) from investigating alleged anti-competitive practices in aviation fuel supply at the behest of state-owned oil marketing companies, stating that the case falls under the remit of the Petroleum and Natural Gas Regulatory Board (PNGRB). This is very odd, because the PNGRB Act has been interpreted incorrectly by the court. It is a fact that all sector regulators are required to promote competition, inasmuch as all government policies are designed to do, but to interpret that as meaning that they will check anti-competitive practices also is far-fetched. That is the job of the CCI. Similar such concerns have also arisen because of the steady rise in the inter-regulatory disputes. Many other such cases reflect that regulatory law reforms in India lack a consistent, coherent approach.
  • MCA to look into regulatory overlap in competition law
    Jun 22, 2011
    Fearing a sectoral backlash against the competition law, the ministry of corporate affairs (MCA) has formed a core committee to look at the issue of regulatory overlap in relation to the Competition Act. The four-member committee headed by former Competition Commission of India (CCI) chairman Dhanendra Kumar, which is working on drafting the National Competition Policy, would also look at the issue of regulatory overlap. Among the key mandates that the committee is empowered with is to identify specific examples of other extant laws that allow sectoral regulators to deal with competition issues. Issues concerning (absence of) competition are largely seen as the prime responsibility of CCI, and the Competition Act gives the commission comprehensive powers in this regard.
  • A review of competition law from an M&A perspective
    Jun 02, 2008
    While failures are an integral part of mergers and acquisitions (M&A), Indian industry has realised in the recent past that operating in a global environment with globalised competition requires scaling and ‘skill-ing’ rapidly. Do big M&A deals stifle competition? What should the competition law promote and avoid? “We believe that while it is important to ensure competition and prevent monopolisation, it is critical that in the process of doing so, impediments are not placed to growth,” feels Mr Harish H. V., Partner Specialist Advisory Services, Grant Thornton. He shares his views (with key inputs from Mr Arun Kumar M. K., Vice-President, Specialist Advisory Services) on the competition law from an M&A perspective with Business Line.
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