Business Ethics and Corporate Governance, Second Edition

THE COMPETITION ACT, 2002

The Competition Act that extends to the whole of India, except Jammu and Kashmir, received the assent of the President on 13 January 2003. The objective of the Act is to provide, keeping in view of the economic development of the country, (i) for the setting up of a commission to prevent practices having adverse effect on competition; (ii) to promote and sustain competition in markets; (iii) to protect the interests of consumers; and (iv) to ensure freedom of trade carried on by other participants in markets in India, and for matters connected therewith or incidental thereto.

The NDA Government while introducing the Competition Commission of India (CCI) provided for the appointment of a bureacrat to head it. But the ...