The document summarizes key aspects of India's competition law framework. It outlines that competition law in India was triggered by the constitution and the first law was the Monopolies and Restrictive Trade Practices Act of 1969. This was replaced by the Competition Act of 2002 to promote competition and private enterprise. The Competition Act established the Competition Commission of India and has four main parts - regulating anti-competitive agreements, abuse of dominance, combination regulation, and competition advocacy. It aims to facilitate competition, establish the CCI to prevent anti-competitive practices, promote market competition, protect consumer interests, and ensure trade freedom. The CCI has powers like imposing penalties, modifying or blocking combinations, and separating dominant enterprises.

1. Neelam Kaushal
Competition Act, 2002

3. Important Dates & Information
MRTP Act – 1969 (Sachar Committee) |
Competition Act – 2002 (Raghavan
Committee) Amendment to Competition
Act – 2007 | Notification on
“Combination”- 2009
Competition Law for India was triggered by Articles 38 and 39 of
the Constitution of India. These Articles are a part of the Directive
Principles of State Policy. Based on the Directive Principles, the
first Indian competition law was enacted in 1969 and was labeled
the MONOPOLIES AND RESTRICTIVE TRADE PRACTICES ACT,
1969 (MRTP Act).

4.  The MRTP Act has become obsolete in certain
areas in the light of international economic
developments relating to competition laws and
hence focus was shifted from curbing monopolies
to promoting competition.

5. Introduction

6. Introduction
 The Competition Act, 2002
 The Vajpayee government developed the concept of the
‘Competition Commission’ and introduced it as the Competition
Act, 2002. It was considered that competition and private
enterprise needed to be encouraged, particularly in light of
the 1991 economic liberalisation of India. Modern competition
rules are based on the Competition Act of 2002, as updated by
the The Competition (Amendment) Act of 2007. The President
gave his approval to the Competition Act of 2002 in January of
2003, after Parliament enacted it in 2002. The Competition
Commission of India (CCI) and the Competition Appellate
Tribunal have been constituted in compliance with the Amendment
Act’s requirements.

7. Introduction
 The Act was amended by the Competition Amendment
Act, 2007 and became fully operational from 1 June
2011,
 The provisions relating to competition advocacy was
notified in 2003,
 The provisions regulating anti-competitive agreements
and abuse of dominance were notified with effect from
20 May 2009
 The provisions regulating mergers and acquisitions
were notified on June 2011
Both the Competition Commission of India (CCI) (which
administers the law) and the Competition Appellate

8. Framework of Competition Act 2002
The Framework of Competition Act 2002 has
essentially four compartments:
1. Anti- Competitive Agreements [ Section 3]
2. Abuse of Dominance [ Section 4]
3. Combination Regulation [ Section 5 & 6]
4. Competition Advocacy [ Section 49]

9. Objectives

10. Objective of the Act
 Facilitate & Foster Competition
 Establish a Commission to prevent practices
having adverse effect on competition
 Promote and sustain competition in markets
 Protect the interests of consumers
 Ensure freedom of trade in the Indian markets

11. Why one (business, organization want to
compete
 Profit
 Sales
 Market share
 Situation
 Market
 No. of Sellers
 Independently (doing efforts)
 % of Buyers
 Objective (Profit, Sales, Market share)
All of these are competition factors also

12. Duties of the Commission [Sec
18]
 Eliminate Practices that have an adverse effect
on competition
 Promote & Sustain Competition
 Protect the interest of Consumers, economy and
nature

13. Scope or Focus of the Act
1. Enquire into Anti Competitive Agreements
[Section - 3]
2. Enquire Abuse of Dominant Position [Section –
4]
3. Regulation of Combination & Mergers [Section –
5 to 6]
4. Undertake Competition Advocacy [Section – 49]
A commonly accepted definition of competition
advocacy is that it includes all activities of a
competition agency that are intended to promote
competition apart from those that involve
enforcement of the competition law.

15. Anti-competitive agreements [Section 3]
Any agreement for goods or services which has
appreciable adverse effect on competition in India
is prohibited. These kinds of agreements are known
as anti-competitive agreements.

16. Abuse of Dominant position (Section 4)
It means a position of strength, enjoyed by an enterprise,
in the relevant market in India, which enables it to:
 Operate independently of competitive forces prevailing
in the relevant market or,
 affects its competitors or consumers of the relevant
market in its favor.
Using long-term or exclusive contracts to stop customers
from changing suppliers. Using contracts that prevent
commercial partners from giving more favourable terms
to rivals. Cutting off essential supplies to rival
companies. Selling products or services below cost to
hurt or discipline a competitor

17. Regulation of Combination
(Section 5 to 6)
Combination
 The Acquisition of one or more enterprise by way
of merger or amalgamation or control over
enterprise is regarded as combination.
Merger: Where assets and liabilities of one
company are transferred to another and the first
company loses its existence. Amalgamation: Where
two or more companies merge into a third new
company and the existing company loses its
existence.

18.  Mergers occur frequently. Some examples include when
Gillette was acquired by P&G or when the PC division
of IBM was acquired by Lenovo. Amalgamations
happen less frequently but have still created large,
powerful companies. For example, the world's largest
steel company, Arecelor, was created through an
amalgamation.

19. Powers and Function of CCI
The CCI can exercise power subject to the Act and the
Rules. It should be guided by the principles of natural
justice and provisions of the act
1.The Commission shall have the powers to regulate its
own procedure. [Section 36 (1)]
2. Commission has a power of civil court [ Section 36
(2) ]
A. Summon & Enforcing Attendance of any person on
oath
B. Requiring the Discovery and production of Document
C. Receiving evidence as affidavit
D. Issue commission for examination of witness or
documents
E. Requisitioning any public record on document or copy

20.  This is the first principle of natural justice that
states no individual should be a judge in his own
cause, or a deciding power must be neutral and
impartial when examining any case.

21. 3. Commission may call the experts on respective field i.e
Economics’, Commerce, Accountancy which may be
necessary [ Section 36 (3)]
4. Direct any person [ Section 36 (4)]
I. Produce Book , Accounts or other documents
II. Furnish information about trade in procession of such
persons
Issue cease and desist orders
6. Impose fines and penalties (Section 27)
7. Declare agreement having Appreciable adverse effect
on competition (AAEC) void (invalid)
8. Pass orders modifying agreement

22. In case of abuse of dominance
9. order for division (separate) of dominant enterprise
(Section 28)
In case of combinations: (Section 31)
10. Approve Combination
11. Approve with modifications
12. Direct that combinations shall not take effect
13. To order demerger Other Powers
14. In case of companies, individuals may also be held
liable if consent, connivance or neglect is proved
15. CCI has extra-territorial reach
16. To order cost for frivolous (playful) complaint

23. links
 https://www.google.com/search?q=Competition+A
ct+youtube+video&rlz=1C1KUBR_enIN875IN875
&oq=Competition+Act+youtube+video&aqs=chro
me..69i57j33i160l2.14081j0j7&sourceid=chrome&
ie=UTF-
8#fpstate=ive&vld=cid:e9e1b315,vid:tNWurUgLB
oM
 https://blog.ipleaders.in/the-competition-act-2002/

24. Introduction
The Foreign Exchange Regulation Act, 1973.

25. Introduction
 To replace the FERA, Finally FEMA (Foreign
Exchange Management Act)Act came into existence
or force on I, January 2000.
 Tell the Students meaning of foreign
exchange..conversion of one country currency into
other.
 Export and import are the methods to bring other
country currency in to one’s country.
 Trade investment
 FERA..Nature of this act was of controlling..thats why
it has been replaced..businesses faced to much
problem

27.  RBI requires foreign exchange
 Moreover, in country foreign reserves were very
less in the country
 These are required to pay the liabilities
 Whatever amount RBI want to issue for that
reserves are required
 Draconian meaning …anyboby who will not follow
the rules then it will be treated as criminal
offence.

28. Objectives of FEMA

29. Main Provisions

36.  Current account transaction: economy related
short term transactions.
 Capital account transactions:assets and liabilities
related transactions. Also inflow and outflow of
capital. Investment in foreign or loan given to
foreign etc