In exercise of the power conferred upon it, the Central Govt. has established the Competition Commission of India or CCI, having its head office at New Delhi with effect from 14.10.2003. The Competition Commission of India is a body corporate having perpetual succession and a common seal. It may establish offices at any place within India. The Commission shall consist of a Chairperson and not less than two and not more than 10 other members to be appointed by the central government.
The Competition Commission of India attempts to prohibit Anti-Competitive Agreement, Abuse of Dominant position by an Enterprise and to regulate certain combinations which include acquisition of shares, acquiring of control and mergers and amalgamation between and amongst enterprises. On a reference from a statutory authority, the Commission is mandated to express and deliver judicial opinion on a competition issue arising during the course of proceedings pending in the statutory authority which can pass order only after having received the opinion of the Commission. The central government may also make a reference and seek opinion of the Commission on the possible effect on competition emanating from its policy, statute, rules, regulations framed, adopted or contemplated by it. The Commission shall enquire into cases relating to anti-competitive agreement, abuse of dominant position by an enterprise and combinations through enquiry. The powers, authority and jurisdiction of the Commission may be exercised by the benches thereof and every bench shall have at least one judicial member. The Commission is responsible for formulation of regulations which would govern the procedure relating to conduct of enquiries.
