Textbook on Competition Law

The Competition law of India is still in the process of making. The law is entitled as the Competition Act, 2002, but is recorded as Act 12 of 2003. The last regulations are made under the title of the Competition Commission of India (Manner of Recovery of Monetary Penalty) Regulations 2011. the process of amending the provisions of the Competition Act, 2002 and making new rules and regulations under this Act will continue to keep in pace with the global development of free trade and competition. "The main objective of competition law is to promote economic efficiency using competition as one of the means of assisting the creation of market responsive to consumer preferences." This view is expressed by the Supreme Court in Competition Commission of India v. SAIL, which is the first reported case on the subject in (2010) 10 SCC 744. This case has dealt with different aspects of the Competition Act, 2002 with special reference to sections 26 and 53A among others of the said Act. There are only few High Court cases reported on this Act. Attempts have been made to refer to all these decisions along with foreign decisions in appropriate places of the said Act.

This book is divided into two parts for the sake of convenience. Part One contains the background of competition law in different parts of the world including India, the trend of development of competition law in Europe, the U.K., U.S.A., Australia and also in India. Part Two concentrates on the Competition Act, 2002 with section-wise commentaries, corresponding laws, updated amendments, case laws of the Supreme Court of India and other High Court as well as foreign decisions.

All attempts are made to make this book fool-proof, useful to all concerned and comprehensive in all respects. I acknowledge with gratitude the sincere support of the publishers to bring out this book. I welcome any fruitful suggestions from the readers for its future improvement.