The past few years have been challenging
for the economy and for businesses world over, making the task of policy makers
even more daunting. India, in the
pursuit of globalization responded by opening up its economy by removing
controls and resorting to liberalization. In the light of this, the obvious
need of the hour was that the Indian market be geared to face competition from
within the country and outside. The
financial crisis which gripped world strengthened the need and highlighted the
importance of a strong and effective competition policy, a policy which would
encourage markets to work well for the benefit of business and consumers,
thereby increasing the country’s economic fitness: markets characterized by
effective competition makes firms innovate more, keep prices down for consumers
and improved total factor productivity drives economic growth. These factors
are all the more relevant given the financial challenges faced by the country.
It is clear that ultimately, the way out of this crisis – for the financial
sector and the wider economy – lies with competitive markets, backed up by a
robust competition policy.
Competition policy is defined as those
government measures that affect the behavior of enterprises and structure of
the industry with a view to promoting efficiency and maximizing consumer/ social welfare. There are two
components of a comprehensive competition policy. The first involves putting in
place a set of policies that enhance competition or competitive outcomes in the
markets, such as relaxed industrial policy, liberalized trade policy,
convenient entry and exit conditions, reduced controls and greater reliance on
market forces. The other component of competition policy is a law and its
effective implementation to prohibit anti competitivebehavior by businesses, to
prohibit abusive conduct by dominant enterprise, to regulate potentially anti
competitive mergers and to minimize unwarranted government/regulatory
controls. In lieu of this IMS Law
College organized a half day seminar on “Awareness about Competition law and
Policy at AF-III, on April 3, 2014. The eminent speakers of this seminars are
Ms. Surabhi Mehta (Advocate, Competition & IPR law practice of APJ-SLG Law
offices, New Delhi), Mr. Saket Sharma(Advocate, Junior Fellow, University of
Delhi) and Mr Sandeep(Manager (Marketing &Outreach) at CIRC) . The seminar started with the welcome
address and message on the importance of seminar on competition Law and
Policy by Dr.Niti Sinha (HOD Law)
and introduction of Speaker given by Ms. Surabhi Guleria (Law Faculty). Ms. Surabhi Mehta spoke about
the main objectives of Competition Act, 2002
- Prevent practices having
adverse effect on competition.
- Promote and sustain competition
in the markets.
- Protect the interests of consumers.
- Ensure freedom of trade carried
on by other participants in markets, in India
The Act regulates the following broad areas of
competition law in India
Anti-competitive agreements: these could be
both horizontal and vertical agreements
Abuse of dominant position: The Act
prohibits abuse of such dominant position by an enterprise or a group. The
Competition Commission of India (the Commission) is empowered into such
matters.
Combinations: It needs to be noted that the
provisions relating to regulation of “combinations” ( mergers, acquisitions
& amalgamations) are still to be notified. The same are likely to be
notified any time after the Commission finalizes the regulations for the same.
Competition advocacy: this is defined as the
ability of the competition office to provide advice, influence and participate
in government economic and regulatory policies in order to promote more
competitive industry structure, firm behavior and market performance.(World
Bank)
The
Competition (Amendment) Act, 2007
The Competition (Amendment) Act, 2007 was
approved by the Parliament in September 2007 and received Presidential assent
on 24th September 2007. The amendment
brought significant changes in the then existing regulatory infrastructure
established under the Competition Act. A few of the major changes are set out
below:
The Commission to be an expert body which
will function as a market regulator for preventing anti competitive practices
in the country and would also has advisory role and advocacy functions.
The Commission to function as collegiums
and its decisions would be based on simple majority. Omits power of the
Commission to award compensation to parties against proven anti competitive
practices indulged in by enterprises.
Allows continuation of the MRTP Commission
till two years after the constitution of the Commission for trying pending
cases under the MRTP Act and to dissolve the same thereafter.
Notification of all “combinations” i.e.
Mergers, Acquisitions and Amalgamations to the Commission made compulsory.
Establishment of a Competition Appellate
Tribunal with a three member Quasi judicial body to be headed by a retired or
serving judge of the Supreme Court or Chief Justice of High Court to hear and
dispose appeals against any direction issued or decision made or order passed
by the Commission.
Mr. Saket Sharma give introduction of
competition among the market but nothing comparison of product among the
competitors in the terms of pricing, product, packaging and designing etc with
a view to earn profits. While doing a competition companies should have a
healthy environment among the competitors and abide the guidelines framed by
the law and the courts. He gave an example of Google on which Rs 1crore fine
put by the court for not complying the directions of the court. The seminar
ended with vote of thanks given by Ms. Neelam Seam (Law Faculty). The seminar
was coordinated by Dr Niti Sinha (HOD ,
Law), Mr. Govind Prasad Goyal, Ms. Saurabhi Guleria and Ms. Neelam Seam (Law
Faculty) along with the support of other law faculty members and PS.
Report Prepared by Sudhaklaran
Law Faculty
Institute of Management Studies, Noida organised ‘BBA HAAT’ on 28th march 2014 in the open ground of Institute. The event began with opening ceremony i.e. cutting of Ribbon by Prof P.K Agarwal (Dean Management) followed by the lightening of the auspicious lamp. The event was compeered by BBA program coordinator Mrs. Harkiranjit Kaur and coordinated by the faculty members of BBA program.
The main objective of organising BBA HAAT was to highlight the entrepreneurial skills and innovative ideas of the BBA students as participants. About 20 stalls were put up by the students such as Youth Station, The Ultimate Gaming zone, PU…SHA...SHI...RO...RA...SHI, Multi Fun Corner, Lucky 7, Fun and Food etc. for games, music, food, handicrafts, henna and many more different activities. President Sir, Dean Academics Mrs. Monica, Dean Management Mr. P. K. Agarwal and IMS advisor Mr. Alok Agrawal motivated the students by visiting all the stalls. They participated in the games and various activities and appreciated the creative ideas and efforts of the students and faculty members. The event was a great success which concluded with a lot of applause and cheers with the distribution of prizes by Prof. P.K Agrawal.
The stall ‘YOUTH STATION’ put up by Rajan Gupta, Richa Goel and Saloni Garg was nominated for 1st prize and a cash award. 
