Competition Commission Of India

  • August 24, 2021
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Competition Commission Of India

Subject – Governance

Context – CCI fines Maruti Suzuki ₹200 crore

Concept –

  • Competition Commission of India is a statutory body responsible for enforcing the objectives of the Competition Act, 2002.
  • CCI was established by the Central Government with effect from 14th October 2003, but it became fully functional on 20th May, 2009.
  • Composition – A Chairperson and 6 Members appointed by the Central Government.
  • Formation of CCI:
    • The CCI was established under the provisions of the Competition act 2002:
    • The Competition Act, 2007, was enacted after amending Competition Act, 2002, that led to the establishment of the CCI and the Competition Appellate Tribunal.
    • The government replaced the Competition Appellate Tribunal (COMPAT) with the National Company Law Appellate Tribunal (NCLAT) in 2017.
  • Function of CCI – To eliminate practices having adverse effects on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
COMPETITION COMMISSION OF INDIA Governance