Practice Areas:
Legal process Outsourcing
Antitrust and Competition Laws
 Competition law has assumed great importance in the wake of economic reforms. The Monopolies and Restrictive Trade Practises Act, 1969, (“MRTPA”) seeks to restrict restrictive and unfair trade practices in India.
However, the MRTPA will soon be repealed by the Competition Act, 2002 (currently pending notification), which will introduce a pre-merger notification regime. Under this regime, all major national and international M&A activity will be impacted.
We at H&S have advised various companies on Indian competition law issues. A dynamic and competitive environment, underpinned by sound competition law and policy, is an essential characteristic of a successful market economy”.
Competition the process by which economic agents, acting independently in a market, limit each other’s ability to control the conditions prevailing in that market.
The basic purpose of the Competition Act, in any country, is to ensure that markets remain competitive, to the benefit of both business and consumers.
The compliance by the market participants of competition law, rules and directions issued by competition authorities (in the case of India, Competition Commission of India), is a precondition in achieving the purpose of law.
Competition Compliance programme helps reduce legal costs by preventing an enterprise from violating competition laws.
- By presenting clear behavioral standards, compliance programmes prevent officers and employees of an enterprise from unconsciously violating the competition law.
- Enterprises save time and money by securing the following benefits from compliance programmes:
Compliance with competition law, rules etc. is necessary, as the consequences of non-compliance may be serious for concerned companies in terms of:
- Investigation by Competition Authorities
- Financial penalties
- Agreements being unenforceable, and void
- Adverse publicity
- Damages
- Possibility of being sued for damages by those harmed by unlawful behaviour
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