Abstract:In a constantly evolving economic scenario, the need for enactment of competition laws became apparent, The Competition Act of 2002 has been implemented to promote competition and ensure freedom of business. One of the major objectives of the competition act is to ensure that the concentration of economic power does not reside in the hands of a few affluent business houses. In a bid to fulfill this objective, the Competition Act of 2002 prohibits parties from entering into anti-competitive agreements. This is … Show more
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