Competition Commission of India

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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