News:The Competition Commission of India has ordered an investigation against online travel agents Make My Trip-GoIbibo and hospitality services provider Oyo for alleged unfair business practices.
About Competition Commission of India:
- Competition Commission of India is a statutory body of the Government of India established in 2003.
- The commission is responsible for enforcing the Competition Act,2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India.
- CCI consists of a Chairperson and 6 Members appointed by the Central Government.
Functions of commission:
- The Commission aims to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
- The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law.
- It also undertakes competition advocacy, create public awareness and impart training on competition issues.
- The Competition Act, 2002 as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws.
- The act prohibits (a)anti-competitive agreements (b)abuse of dominant position by enterprises and (c)regulates combinations (acquisition, acquiring of control and mergers and acquisitions) which causes or likely to cause an appreciable adverse effect on competition within India.