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Competition Law is vital in every economically developed and developing jurisdiction to augment healthy competition between the businesses in a market – to keep prices low and look for innovative ways of operating and to ensure that consumers benefit from the best deals, cheapest prices and most efficient service.
The enforcement provisions of Competition Act, 2002 came into force on 15 May, 2009. After its inception and in its journey of 9 years, the practice area is still at an early stage of jurisprudence with very few experts in India. It is interesting to note that in this short history, the Hon’ble Competition Commission of Indiahas imposed heavy penaltieson enterprises, which has gone as high asRs 6,316.59 crorefor violation of competition law.Apart fromcontraventions of abuse of dominant position or anti-competitive conduct under section 3 and 4 of the Competition Act, 2002, the penalties have also been imposed under section 43A for not complying with requirement to file notice under section 6 of the said Act.
As trusted advisors to our clients, we at KK Sharma Law Offices endeavour to identify such complex issues in competition law including filing applications for recovery of compensation for the loss shown to have suffered by an enterprise or a person (who may or may not be a party to the proceedings before the CCI or NCLAT) which is arising out of findings of the CCI or NCLAT against the anti-competitive conduct of an enterprise.