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Dr. S Chakravarthy1 GREETINGS TO CHARTERED ACCOUNTANTS FOR ICAIS POST QUALIFICATION COURSE VIDEO CONFERENCE FROM HYDERABAD 25 AUGUST 2005 1.

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Presentation on theme: "Dr. S Chakravarthy1 GREETINGS TO CHARTERED ACCOUNTANTS FOR ICAIS POST QUALIFICATION COURSE VIDEO CONFERENCE FROM HYDERABAD 25 AUGUST 2005 1."— Presentation transcript:

1 Dr. S Chakravarthy1 GREETINGS TO CHARTERED ACCOUNTANTS FOR ICAIS POST QUALIFICATION COURSE VIDEO CONFERENCE FROM HYDERABAD 25 AUGUST

2 Dr. S Chakravarthy2 MRTP ACT, 1969 THE OUTGOING INDIAN COMPETITION LAW Dr. S. CHAKRAVARTHY (Profession : Civil Servant) Formerly, Member, Monopolies and Restrictive Trade Practices Commission, Member, High Level Committee on Competition Policy and Law And Member of Committee for Drafting the Law. Presently, Adviser/Consultant Competition Policy and Law HYDERABAD, INDIA

3 Dr. S Chakravarthy3 LPG - PRE 1991 REGIME LICENSING PLANNING GOVERNMENT CONTROL

4 Dr. S Chakravarthy4 LPG – POST 1991 REGIME RECENT POLICY CHANGES FROM 1991 ONWARDS INCLUDE: DEREGULATION AND SIMPLIFICATION OF LICENSING AND APPROVAL PROCEDURES EXEMPTION OF A LARGE NUMBER OF INDUSTRIES FROM LICENSES, APPROVALS AND QUOTAS NEW ECONOMIC ADJUSTMENT MEASURES DIVESTITURE AND SALE OF GOVERNMENT ASSETS GRADUAL DECLINE IN THE INTERVENTIONIST ROLE OF THE PUBLIC SECTOR PRIVATISATION ENCOURAGING COMPETITION

5 Dr. S Chakravarthy5 MONOPOLIES AND RESTRICTIVE TRADE PRACTICES ACT, 1969 A. LODE STAR CONSTITUTION OF INDIA - DIRECTIVE PRINCIPLES OF STATE POLICY B. PRINCIPLES SOCIAL JUSTICE WITH ECONOMIC GROWTH WELFARE STATE REGULATING CONCENTRATION OF ECONOMIC POWER TO THE COMMON DETRIMENT CONTROLLING MONOPOLISTIC, UNFAIR AND RESTRICTIVE TRADE PRACTICES

6 Dr. S Chakravarthy6 THRUST AREAS REGULATION OF CONCENTRATION OF ECONOMIC POWER COMPETITION LAW CONSUMER PROTECTION

7 Dr. S Chakravarthy7 MONOPOLY - A CONCEPT OF POWER TO CONTROL PRODUCTION, SUPPLY ETC CONTROL PRICES PREVENT, REDUCE OR ELIMINATE COMPETITION LIMIT TECHNICAL DEVELOPMENT RETARD CAPITAL INVESTMENT IMPAIR THE QUALITY OF GOODS

8 Dr. S Chakravarthy8 DOCTRINES GUIDING THE ACT BEHAVIOURAL DOCTRINE CONDUCT OF ENTITIES, UNDERTAKINGS AND BODIES TO BE ASCERTAINED. TRADE PRACTICES, DETRIMENTAL TO PUBLIC INTEREST TO BE TESTED REFORMIST DOCTRINE DIRECTION TO DISCONTINUE OR NOT TO REPEAT THE UNDESIRABLE TRADE PRACTICE. ADVISORY

9 Dr. S Chakravarthy9 RESTRICTIVE TRADE PRACTICES REFUSAL TO DEAL TIE-UP SALES FULL LINE FORCING EXCLUSIVE DEALINGS CONCERT OR COLLUSION -- CARTELS PRICE DISCRIMINATION RE-SALE PRICE MAINTENANCE AREA RESTRICTION PREDATORY PRICING GATEWAYS CAN BE PLEADED BY ERRANT UNDERTAKINGS

10 Dr. S Chakravarthy10 UNFAIR TRADE PRACTICES MISLEADING ADVERTISEMENT AND FALSE REPRESENTATION BARGAIN SALE, BAIT AND SWITCH-SELLING OFFERING OF GIFTS AND PRIZES WITH THE INTENTION OF NOT PROVIDING THEM PRODUCT SAFETY STANDARDS HOARDING OR DESTRUCTION OF GOODS DISPARAGING GOODS, SERVICES OR TRADE OF COMPETITORS

11 Dr. S Chakravarthy11 MONOPOLISTIC TRADE PRACTICES MAINTAINING PRICES OF GOODS AT UNREASONABLE LEVELS BY LIMITING, REDUCING OR CONTROLLING PRODUCTION, SUPPLIES ETC UNREASONABLY PREVENTING OR LESSENING COMPETITION LIMITING TECHNICAL DEVELOPMENT OR CAPITAL INVESTMENT OR ALLOWING QUALITY TO DETERIORATE INCREASING UNREASONABLY THE COST OF PRODUCTION OR CHARGES INCREASING UNREASONABLY THE PRICES OF GOODS OR PROFITS

12 Dr. S Chakravarthy12 DOMINANCE INTER-CONNECTION BETWEEN UNDERTAKINGS ABUSE OF MARKET POWER MERGER AND AMALGAMATION

13 Dr. S Chakravarthy13 APPLICABILITY OF THE MRTP ACT ALL UNDERTAKINGS ENGAGED IN MANUFACTURE, SUPPLY AND DISTRIBUTION IN THE PRIVATE SECTOR PUBLIC SECTOR UNDERTAKINGS OWNED BY THE GOVERNMENT OR GOVERNMENT UNDERTAKINGS STATUTORY CORPORATIONS UNDERTAKINGS UNDER THE MANAGEMENT OF CONTROLLERS APPOINTED BY LAW COOPERATIVE SOCIETIES FINANCIAL INSTITUTIONS, BANKS

14 Dr. S Chakravarthy14 MRTP COMMISSION THE AUTHORITY OF THE COMMISSION INCLUDES THE POWER TO DIRECT AN UNDERTAKING TO DISCONTINUE A TRADE PRACTICE TO PASS A CEASE AND DESIST ORDER TO GRANT TEMPORARY INJUNCTION TO AWARD COMPENSATION TO DIRECT PARTIES TO AGREEMENTS TO MODIFY THE SAME TO DIRECT PARTIES TO ISSUE CORRECTIVE ADVERTISEMENTS TO RECOMMEND TO CENTRAL GOVERNMENT, DIVISION OF UNDERTAKINGS OR SEVERANCE OF INTER-CONNECTION BETWEEN UNDERTAKINGS

15 Dr. S Chakravarthy15 INVESTIGATION AND ENQUIRIES ACTION CAN BE INITIATED BY: AN INDIVIDUAL CONSUMER A REGISTERED ASSOCIATION OF CONSUMERS A TRADE ASSOCIATION DIRECTOR GENERAL, INVESTIGATION & REGN GOVERNMENT MRTP COMMISSION SUO MOTU

16 Dr. S Chakravarthy16 COMPETITIVE ADVANTAGE PARADOXICALLY, THE ENDURING COMPETITIVE ADVANTAGES IN A GLOBAL ECONOMY LIE INCREASINGLY IN LOCAL THINGS – KNOWLEDGE, RELATIONSHIPS AND MOTIVATION THAT DISTANT RIVALS CANNOT MATCH. MICHAEL E. PORTER

17 Dr. S Chakravarthy17 THANK YOU FOR YOUR KIND ATTENTION


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