Abstract

The Competition Act of 2002 is an Indian law that regulates commercial competition. It took the place of the 1969 Monopolies and Restrictive Trade Practices Act. The Competition Act of India aims to prevent practises that damage competition in India. This article will include additional information about the Competition Act, 2002, in the light of the Competition Commission of India's Procedure for Investigation of Combination under the Act's scheme. When competition and liberalisation are combined, the creative forces in the economy are unleashed. Customers have a wider variety of options at lower prices as a result of competition, which promotes innovation and competitiveness and results in the most effective allocation of capital. With the dawn of the globalisation period, Indian companies found themselves up against stiff competition from both domestic and international players, necessitating a level playing field and an investor-friendly climate. In a free market economy, some firms can destabilise the market by engaging in anticompetitive practises for short-term benefit. These techniques have the ability to completely eliminate the benefits of competition.

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