Govt for repeal of MRTPC Act, to setup competition panel

The government has proposed repeal of the Monopolies and Restrictive Trade Practices Act, 1969 and the Monopolies and Restrictive Trade Practices Commission (MRTPC) and creation of a Competition Commission of India (CCI) to implement the proposed Indian Co

Govt for repeal of MRTPC Act, to setup competition panel

With the setting up of a Competition Commission of India and abolition of MRTPC, all the cases of unfair trade practices before the commission will be transferred to the concerned consumer courts under the Consumer Protection Act, 1986.

The pending monopolies and restrictive trade practice cases before MRTPC will be taken up for adjudication by CCI from the stages they are in. The government is keen to have the competition bill introduced and passed in the forthcoming winter session of Parliament. The bill proposes stiff penalties for disobeying orders of the commission.

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