Competition Commission of India (CCI)
Competition Commission of India is a government body responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in business in India. It was established on 14 October 2003. It became functional in May 2009.
The Competition Act,2002 aims at prohibition of anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and Merger and acquisition), which causes or likely to cause an appreciable adverse effect on the healthy competition.
Under section 49 (3) of the Competition Act, It is the duty of the Competition Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues
The Commission comprises a Chairperson and six members. Ashok Chawla is the current Chairperson of the CCI.
The Competition Appellate Tribunal (CAT) is comprised of a chairperson and two members. The CAT is vested with the following powers:
- To hear and dispose of appeals filed against any direction issued or decision made or order passed by the CCI.
- To adjudicate on claim for compensation that may arise from the findings of the commission or orders of Appellate Tribunal in appeal against any findings of the commission and pass order for the recovery of compensation under that Act.