The Competition Commission of India has been constituted under Section 7 of the Competition Act, 2002 as amended in 2007.
The Competition Commission of India consists of a Chairperson and not less than two and not more than six other Members. Under Section 18 of the Competition Act, the functions of the Commission inter-alia are to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade carried on by other participants, in markets in India.
This information was given by the Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today in the Lok Sabha in reply to a written question whether the Government has constituted the Competition Commission of India (CCI) and the composition and functions of the said Commission.
CAclubindia
