It's been almost 7 years since the Competition Act was passed by the Parliament. The move to pass the Act, appears to be in hurry, especially in view of the obligations which India undertook to be in compliant with WTO norms and raising its status among the "legally civilized nations". Still, the whole Act is not in force. The Government of India on 15th May 2009 notified that the central government hereby appoints the 20th May 2009 as the day on which section 3,10,13,15,16,19,20,21,25,26,28,31,33,34,35,36,38,39,43 and section 53 B, 53N,53O,53P,53Q,53R,53S,53T,53U of the Act shall come into force.
It is to be seen how well the Competition Commission is handeled by the Authorities. It appears from the new items published in the National newspapers and CCI websites that CCI is on the process of filling the post at various levels.
Of these sections important thing that emerges is that- atleast the body CCI would come into force alnog with its tribunal for resolution of disputes and carrying out day to day function specially pertaining to regulating the anti-competitive agreements. In my view there is still a long way to go. CCI is now just like a plant of gram, just erupted out of the soil. It stil need lot of nourishment and this nourishment it will get from it's own able and competent Chairman and officers.
Anyway , let's see how it goes....All the thumbs up to CCI!
It can look to SEBI for the way how SEBI have functioned independently over a period of almost 20 years. Government was wise enough to appoint wish persons at the top in SEBI, Government should also continue the same with CCI.
No comments:
Post a Comment