Scholarly Research Journal for Interdisciplinary Studies, Online ISSN 2278-8808, SJIF 2021 = 7.380, www.srjis.com PEER REVIEWED & REFEREED JOURNAL, NOV-DEC, 2022, VOL- 10/74
A COMPARATIVE ANALYSIS ON THE COMPETITION LAW REGIME OF US AND INDIA WITH RESPECT TO THE LOOPHOLES IN THE INDIAN COMPETITION ACT Shivangi Sharma Ph.D. (Law) scholar of Rabindranath Tagore University, Bhopal.
Paper Received On: 25 DECEMBER 2022 Peer Reviewed On: 31 DECEMBER 2022 Published On: 01 JANUARY 2023
Scholarly Research Journal's is licensed Based on a work at www.srjis.com
1.0 Introduction The main objective of this research project work is to create awareness regarding the Indian and US laws related to competition among the consumers, business owners, companies and other related persons who get affected by the competition either in the form of anti-competitive agreements or abuse of dominance or in any other form in their daily life. In this research work I will try to find out the loop holes in Indian laws in framing the Competition Act of India 2002 and will try to compare the Indian laws with the laws of US with regard to the Competition. 1.1 History of Competition Law Regime in India The need of Anti-trust laws was felt for the first time after the first industrial policy came in 1948. There were no Anti-trust or Competition laws in India before 1969 so there was a need to introduce the . The first ever Act that was introduced to restraint and regulate the monopolistic practices, restrictive and unfair trade practices came in 1969 that was named as Monopolies and Restrictive Trade Practices Act,1969. 1.1.1 MRTP Act, 1969 This Act was intended to control Monopolistic behaviour of the people, organization, companies etc. and to provide the prohibition of Monopolistic and restrictive Trade practices. This Act worked well till the introduction of the new financial policy by the then financial Minister Mr. Man Mohan Singh according to which the barriers on entry and exit in Indian Copyright © 2022, Scholarly Research Journal for Interdisciplinary Studies