Law Final Group6
LAW PROJECT
Progression of MRTP Act to Competition Act in the era of globalization where world is a single platform for carrying out trade and commerce.
Under the Guidance of
Prof. Anant Ambdekar
Submitted by
Devaki Parikh (102)
Yesha Bhatt (104)
Abhijit Thakkar (106)
Neilay Mehta (108)
Mayuresh Parab (110)
Yash Shah (112)
Shaival Shah (114)
Vishal Sonwani (116)
Varsha Gupta (118)
Divya Singh (120)
INDEX
Sr No. Particulars
Pg No.
1
MRTP Act,1969
3
2
Need for Competition Act,2002
13
3
Competition Act,2002
15
4
Components of Competition Act,2002
16
5
Competition Commission of India
33
6
Difference between Mrtp Act,1969 and Competition Act,2002
34
7
Comparison with other countries
36
8
Statistical Data
44
9
Case Studies
45
10
Conclusion
50
11
Bibliography
51
Monopolistic and Restrictive Trade Practice ACT, 1969
The Directive Principles of our constitution suggest that ownership and control of material resources should be widely distributed and there should be no concentration of wealth and means of production. With this in mind, the competition law of India, namely the Monopolistic and Restrictive Trade Practice Act, 1969, was enacted.
In many countries and in particular developing countries like India, a large number of consumers are illiterate and ill-informed and possess limited purchasing power in an environment, where there is shortage of goods. Very often, one witnesses the spectacle of a large number of non-essential, sub-standard, adulterated, unsafe and less useful products being pushed through by unscrupulous traders by means of Unfair Trade Practices and deceptive methods. Subtle deception, half-truths and misleading omissions inundate the advertisement media and instead of the consumer being provided with correct, meaningful and useful information on the products, they often get exposed to fictitious information which tends to their making wrong buying decisions. Transparent information is missing and needs to be a
Progression of MRTP Act to Competition Act in the era of globalization where world is a single platform for carrying out trade and commerce.
Under the Guidance of
Prof. Anant Ambdekar
Submitted by
Devaki Parikh (102)
Yesha Bhatt (104)
Abhijit Thakkar (106)
Neilay Mehta (108)
Mayuresh Parab (110)
Yash Shah (112)
Shaival Shah (114)
Vishal Sonwani (116)
Varsha Gupta (118)
Divya Singh (120)
INDEX
Sr No. Particulars
Pg No.
1
MRTP Act,1969
3
2
Need for Competition Act,2002
13
3
Competition Act,2002
15
4
Components of Competition Act,2002
16
5
Competition Commission of India
33
6
Difference between Mrtp Act,1969 and Competition Act,2002
34
7
Comparison with other countries
36
8
Statistical Data
44
9
Case Studies
45
10
Conclusion
50
11
Bibliography
51
Monopolistic and Restrictive Trade Practice ACT, 1969
The Directive Principles of our constitution suggest that ownership and control of material resources should be widely distributed and there should be no concentration of wealth and means of production. With this in mind, the competition law of India, namely the Monopolistic and Restrictive Trade Practice Act, 1969, was enacted.
In many countries and in particular developing countries like India, a large number of consumers are illiterate and ill-informed and possess limited purchasing power in an environment, where there is shortage of goods. Very often, one witnesses the spectacle of a large number of non-essential, sub-standard, adulterated, unsafe and less useful products being pushed through by unscrupulous traders by means of Unfair Trade Practices and deceptive methods. Subtle deception, half-truths and misleading omissions inundate the advertisement media and instead of the consumer being provided with correct, meaningful and useful information on the products, they often get exposed to fictitious information which tends to their making wrong buying decisions. Transparent information is missing and needs to be a
Bibliography: 51 Monopolistic and Restrictive Trade Practice ACT, 1969