Articles
Who can be David to bring down Goliath?
by Rishi Batta Law FirmPre liberalization, competition law in India was governed
by the Monopolies and Restrictive Trade Practices Act, 1969 (“MRTP Act”). Based
on principles of ‘command and control’, the MRTP Act was enacted to prevent
concentration of economic power in the hands of a few, control monopolies and
to prohibit monopolistic, restrictive, and unfair trade practices. It was only
in the 1990s when India transitioned into a free market-based economy that the
need for an effective competition law regime arose.
The MRTP Act was repealed since it had outlived its
effectiveness and purpose and the Competition Act, 2002 (“Act”) was enacted to
replace it. However, substantive provisions of the Act relating to competition
law enforcement came into force only on 20th May 2009. The Competition
Commission of India (“CCI”) was established to enforce the provisions of the
Act with the overarching objectives of preventing practices having an adverse
effect on competition in India, promoting and sustaining competition in
markets, protecting the interests of consumers, and ensuring freedom of trade.
Tatva Legal, Hyderabad provides comprehensive dispute
resolution related legal services and our team of experienced
lawyers have advised on a multitude of litigations involving complex matters of law, amongst other
services.
Read More : https://tlegal.com/blog-details/who-can-be-david-to-bring-down-goliath
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About Rishi Batta 
Law Firm
13 connections, 1 recommendations, 57 honor points.Joined APSense since, July 6th, 2021, From Hyderabad, India.
Created on Jul 19th 2021 11:50. Viewed 353 times.
