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With reference to the Competition Commission of India’s (CCI), consider the following statements:
1. It is a constitutional body under Article 324.
2. Its composed of a Chairperson and 6 Members appointed by the Central Government.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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With reference to the Competition Commission of India’s (CCI), c...
Union Minister for Finance and Corporate Affairs inaugurated the Competition Commission of India’s (CCI) Regional Office (South) in Chennai.
- 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.
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Most Upvoted Answer
With reference to the Competition Commission of India’s (CCI), c...
The Competition Commission of India (CCI) is a statutory body responsible for enforcing the Competition Act, 2002 in India. It was established in October 2003 and has its headquarters in New Delhi.
The primary objective of the CCI is to promote and sustain competition in the Indian market, protect the interests of consumers, and ensure the freedom of trade. It aims to prevent anti-competitive practices, such as cartels, abuse of dominant market positions, and mergers and acquisitions that may have adverse effects on competition.
The CCI has the power to conduct investigations, issue orders, and impose penalties on entities that violate the provisions of the Competition Act. It has the authority to impose fines up to 10% of the entity's turnover for a period of three preceding financial years.
The CCI comprises a Chairperson and six Members, who are appointed by the Central Government. They are responsible for administering the provisions of the Competition Act and making decisions on cases brought before the Commission.
The CCI also plays an important role in promoting competition advocacy and creating awareness about the benefits of competition in the Indian market. It conducts studies, research, and training programs to enhance the understanding of competition law and policy among stakeholders.
Overall, the Competition Commission of India plays a crucial role in maintaining a competitive market environment in India, thereby benefiting consumers and promoting economic growth and development.
The primary objective of the CCI is to promote and sustain competition in the Indian market, protect the interests of consumers, and ensure the freedom of trade. It aims to prevent anti-competitive practices, such as cartels, abuse of dominant market positions, and mergers and acquisitions that may have adverse effects on competition.
The CCI has the power to conduct investigations, issue orders, and impose penalties on entities that violate the provisions of the Competition Act. It has the authority to impose fines up to 10% of the entity's turnover for a period of three preceding financial years.
The CCI comprises a Chairperson and six Members, who are appointed by the Central Government. They are responsible for administering the provisions of the Competition Act and making decisions on cases brought before the Commission.
The CCI also plays an important role in promoting competition advocacy and creating awareness about the benefits of competition in the Indian market. It conducts studies, research, and training programs to enhance the understanding of competition law and policy among stakeholders.
Overall, the Competition Commission of India plays a crucial role in maintaining a competitive market environment in India, thereby benefiting consumers and promoting economic growth and development.
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With reference to the Competition Commission of India’s (CCI), consider the following statements:1. It is a constitutional body under Article 324.2. Its composed of a Chairperson and 6 Members appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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With reference to the Competition Commission of India’s (CCI), consider the following statements:1. It is a constitutional body under Article 324.2. Its composed of a Chairperson and 6 Members appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Competition Commission of India’s (CCI), consider the following statements:1. It is a constitutional body under Article 324.2. Its composed of a Chairperson and 6 Members appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Competition Commission of India’s (CCI), consider the following statements:1. It is a constitutional body under Article 324.2. Its composed of a Chairperson and 6 Members appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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