The Competition Act 2002 enables the Competition Commission to check anti-competitive agreements, prohibit abuse of dominance by strong companies over weak organisations and regulate mergers and acquisitions or takeovers taking place in the market.
Competition Commission of India (CCI) has been bestowed with adjudicatory powers
1. To prevent practices having adverse effect on competition,
2. To promote and sustain competition in markets,
3. To protect the interests of consumers and
4. To ensure freedom of trade carried on by other participants in Indian market.
Based on this mandate, CCI has fined many MNCs in India who have been accused of abuse of dominant position in India:
- Penalty of Rs. 1337 crores on Google – Google imposed discriminatory conditions on sales or purchase & supplementary obligations with mobile phone manufacturers.
- Penalty of Rs. 202 crores on Amazon by CCI for not disclosing its interest in Future Retail while investing in Future Coupons.
- Penalty of Rs 873 crores on three Beer Companies for cartelisation in the sale and supply of beer.
The 2023 amendment to the Competition Act has further expanded the scope of CCI to check anti-competitive practices by MNCs.
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