Competition Commission of India has been established with the objective to eliminate practice having adverse effect on competition, promote and sustain competition, protect the interest of consumers and ensure freedom of trade carried on or by other participants in markets in India and for matters connected therewith or incidental thereto.
Till 28.11.2011, the Commission has received 166 cases under section 3 and 4 of the Competition Act, out of which 88 cases have since been closed/disposed off. Besides, the Commission has also received 50 cases on transfer from the erstwhile MRTP Commission, out of which 41 cases have been closed/ disposed off. In addition, out of 12 cases received under section 5 and 6 of the Act, the Commission has disposed off 9 cases.
The Commission has been investigating information relating to matters connected to protect the interest of consumers viz., hike in Sugar Prices, hike in Cement Prices, hike in Steel Prices, hile in air fare, hike in onion prices, etc. The proceedings before the Competition Commission which is an autonomous statutory body under the Act, are of a quasi judicial nature.