A Study on Competition Law of India
|School||Central South University|
|Keywords||India the competition act the competition commission|
The India Competition Laws have developed from Monopolies and Restrictive Trade Practices Act, 1969 to The Competition Act, 2002, then to The Competition Amendment Act, 2007. During the development, the India competition laws become more and more perfect and the legislation aim have changed from "control monopoly" to "promote competition". The cope of application of the India Competition Act including all of nature persons and corporate bodies who is capable of carrying on economic activity except the Government body, the statutory body and any person who act on behalf of them. The India Competition Act mainly has three regulating objects, namely, anti-competition agreements, abuse of dominant position and anti-competitive combinations. The intellectual property rights agreements and the export agreements will not be restricted by the India Competition Act. The main executive organizations of the India Competition Act are Competition Commission of India, Competition Appellate Tribunal and sector authorities. The mainly punishment measures are finance penalty, damage compensation, split of undertakings and criminal punishments. The act also provides the leniency program for the parties that supply information initiatively. The time of India constituting the competition act is very early in the developing countries. The India Competition Act not only absorbed and adopted advantages and experiences from the developed countries but also took the situation of own country into account. The India competition legislation is worth of learning for the antimonopoly legislation of our country.