Consider the following statements about the Competition Commission of India (CCI): It regulates ‘mergers’ and ‘acquisitions’, or ‘takeovers’ taking place in the market. Its Chairperson and members are eligible for re-appointment. 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 'C'. Can you explain this answer?

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Consider the following statements about the Competition Commission of India (CCI):

It regulates ‘mergers’ and ‘acquisitions’, or ‘takeovers’ taking place in the market.

Its Chairperson and members are eligible for re-appointment.

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 'C'. Can you explain this answer?

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Most Upvoted Answer

Consider the following statements about the Competition Commission of...

The Competition Act, 2002, established the Competition Commission of India.

The Competition Act, 2002, was enacted by replacing the Monopolies and Restrictive Trade Practices (MRTP) Act, 1969, on the recommendations of Mr. S. V. S. Raghavan Committee.

Mandate:

To check anti-competitive agreements;
To prohibit abuse of dominance by strong companies over weak organisations; and
To regulate ‘mergers’ and ‘acquisitions’, or ‘takeovers’ taking place in the market.

Tenure:

The Chairperson and the members shall hold office as such for

a term of five years;
till he/she attains the age of 65 years; the Chairperson and the members shall be eligible for re-appointment.

The Chairperson and other members of the Commission shall be appointed by the Central Government from a panel of names recommended by a Selection Committee, consisting of –

the Chief Justice of India or his nominee – Chairperson;
the Secretary in the Ministry of Corporate Affairs – Member;
the Secretary in the Ministry of Law and Justice – Member;
two experts of repute who have special knowledge of, and professional experience in international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs or competition matters, including competition law and policy – Members.

Answered by Notes Wala · View profile

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Consider the following statements about the Competition Commission of India (CCI): It regulates ‘mergers’ and ‘acquisitions’, or ‘takeovers’ taking place in the market. Its Chairperson and members are eligible for re-appointment. 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 'C'. Can you explain this answer?

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