- Former Air India Executive Director Jitender Bhargava has challenged the CCI (Competition Commission of India) clearance to the Rs.2,060-crore Jet-Eithad deal in the Competition Appellate Tribunal (Compact).
- The CCI has sought explanations from the two carriers in this regard to ascertain whether they failed to provide information on certain commercial pacts, which could raise anti-competition concerns.
Related information:
The Competition Act
- The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.
- Goal: is to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of the consumers.
Competition Commission of India (CCI)
- The objectives of the Act are sought to be achieved through the Competition Commission of India (CCI), which has been established by the Central Government with effect from 14th October 2003. CCI consists of a Chairperson and 6 Members appointed by the Central Government.
- It is the duty of the Commission 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 and to undertake competition advocacy, create public awareness and impart training on competition issues.
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