The Structural Framework Of The Competition Commission Of India With A Critical Analysis Of Its Powers & Functions
Paro Kumari, B.A.LL.B., Presidency University, Bengaluru
ABSTRACT
The Competition Commission of India is a regulatory body established under the Competition Act, 2002 to maintain healthy competition in the Indian market. The genesis of CCI can be traced back to the need for a modern competition regulator that could replace the Monopolies and Restrictive Trade Practices (MRTP) Commission, which had its limitations in addressing emerging competition concerns. CCI was formed to rectify these inadequacies and to bring India in line with international competition standards. Its powers and functions evolved over time, however, there are certain statutory lacunas due to which CCI is criticized often. This research paper delves into the multifaceted aspects of CCI including its historical context, powers, functions, composition, landmark cases, legislative amendment bill and criticism. The paper provides a brief introduction of Competition Commission of India. The reasons behind coming up with CCI and replacing the predecessor body, MRTP Commission. The powers and functions of CCI under competition Act, 2002 is also extensively explained. It also highlights the provisions relating to the Commission including its composition under Competition Act, 2002. CCI has made significant contributions through landmark decisions. These include cases against major corporations for anti-competitive practices, promoting fair competition, and ensuring consumers' interests are safeguarded. The paper also covers certain recommendations proposed in the Competition (Amendment) Bill, 2002, aimed at enhancing the efficiency and effectiveness of CCI in its role as a regulator. These recommendations offer insights into potential improvements for the Commission's operations. Finally, the criticisms of CCI while operating as a regulatory body and challenges before it due to rapidly evolving business landscape, proliferation of digital markets and global competition.
Keywords: CCI, Regulatory Body, Composition, Powers, Functions.
Comments