Power and Duties – The Legal Lock

Introduction:-
Competition act, 2002
The competition bill, 2001 was introduced in Lok Sabha on 6 august 2001 and passes on December 2002 to replace the MRTP act, 1969.
The act is also recognized as competition act 2002 or antitrust law.
The objective of the act to prohibit anti competitive agreements, abuse of the dominant position by enterprises and regulates the combinations which causes or is likely to cause adverse effect on competition with in India
This act extends to the whole of India except the state of Jammu and Kashmir.
The competition act, 2002 was amended by the competition (amendment)