“Competition Comission Of India: Safeguarding Fair Play In Mergers And Acqusitions In India”

Abstract

Competition is a sign of development subject to healthy and impartial circumstances for all. Indian business is not an exception for the same. Indian legal literature has always tried to pinpoint the problem of anticompetitive attitude of business icons in Indian market. MRTP Act has been enacted with an objective to restrict the monopoly in market. This piece of legislation has worked on various anti-monopolistic practises and tried to curtail it. But after the Industrial Governmental Policy 1991 the concept liberalization, privatization and globalization become the power booster for Indian market, which leads to various and unlimited investment in Indian business by foreign player. In this attractive stage of market Mergers and Acquisitions has becomes the significant route of business growth. Most of the market player started accepting the merger or acquisition with various reasons. This has resulted in to the competitive atmosphere in the market with various kinds of unfair practices and greedy trice to control the market. It started working as a barrier to the new entities for their entry in the market. Business tycoon has started using their all power and reputation to become king of market. This leads towards the dominant position and concentration of powers in the hands of few powerful people which has completely misbalanced the competitive attitude of market. The Indian legal framework became insufficient to handle the new emerging problems in this regard. Hence the necessity of proper law resulted into The Competition Act 2002 as a remedy for anti-competitive deals in market. It has created The Competition Commission of India as the regulatory authority to curtail the impact of mergers and acquisition on the competition. It has assigned the task to CCI to check and examine the various deals of mergers and acquisition in Indian market in the light of various restriction and limitation to given under the Act 2002. Thus, the researcher is going to analyse the different dimensions of role of CCI to regulate the mergers and acquisitions in the market affecting the healthy competition.