Competition Commission of India
26-08-2023
12:04 PM
1 min read
Overview:
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurates Competition Commission of India’s Regional Office (West) in Mumbai.
About:
- Status: A statutory body established under the provisions of The Competition Act, 2002.
- Established in: 2003.
- Composition: A Chairperson and 6 Members appointed by the Central Government.
- Headquarters: New Delhi.
- Preceding agency: Monopolies and Restrictive Trade Practices Commission.
- Mandate: To implement provisions of The Competition Act, 2002 which –
- prohibits anti-competitive agreements and abuse of dominant position by enterprises
- regulates mergers and acquisition (M&A) which can have an adverse effect on competition within India. Thus, deals beyond a certain threshold are required to get clearance from CCI.
Source : PIB