CCI celebrates 10th Annual DayDate: 22 May 2019 Tags: Commissions & Committees
Competition Commission of India (CCI) celebrated its 10th Annual Day on 20th May 2019. This day marks issuance of notification of substantive enforcement provisions of Competition Act, 2002, giving legal teeth of CCI.
Competition Commission of India (CCI)
- It is statutory body established under the provisions of The Competition Act, 2002.
- It is quasi-judicial body responsible for enforcing Competition Act, 2002 throughout India and prevent activities that have an adverse effect on competition.
- It was established in 2003 and became fully operational (functional) in 2009. It is headquartered in New Delhi.
- Composition: It comprises of Chairperson and three members appointed by the Central Government.
- Objectives of CCI: (i) Prevent practices having adverse effect on competition. (ii) Promote and sustain competition in markets. (iii) Protect the interests of consumers. (iv) Ensure freedom of trade.
- Functions : (i) Eliminate practices having adverse effect on competition, (ii) Promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India. (iii) Give opinion on competition issues on reference received from statutory authority and (iv) Undertake competition advocacy, create public awareness and impart training on competition issues.