No. 1/9/99 – CL. V

GOVERNMENT OF INDIA

MINISTRY OF LAW , JUSTICE & COMPANY AFFAIRS

DEPARTMENT OF COMPANY AFFAIRS

 

5TH Floor , ‘ A ‘ Wing ,

Shastri Bhavan, New Delhi

Dated : 25.10.99

PRESS NOTE : 12/99

SUBJECT : Constitution of a Committee to examine the provisions of the Monopolies &

Restrictive Trade Practices Act , 1969 and to propose a modern Competition Law.

 

The Government has decided to constitute a Committee to suggest a modern competition law suitable to the needs of the country and to propose appropriate changes in the Monopolies & Restrictive Trade Practices Act, 1969 in light of international economic development relating to competition law to suit Indian conditions.

2. The terms of reference of the Committee would be to look into MRTP Act, 1969 and suggest suitable legal framework, in light of international economic development and need to promote competition, relating to competition law. Such a legislative framework may entail a new law or appropriate amendments to MRTP Act. The committee will also suggest appropriate changes relating to legal provisions in respect of Restrictive Trade Practices to ensure clear demarcation between the jurisdiction of the MRTP Commission and Consumer Court under Consumer Protection Act, 1986 and to suggest suitable administrative measures in order to implement the proposed recommendations including restructuring of the MRTP Commission.

  1. The Committee will consists of :-

    (1) Shri S.V.S. Raghavan, Chennai - Chairman

    (2) Shri K.B. Dadiseth, Chairman, Hindustan Lever

    Ltd., Mumbai - Member

    (3) Shri Rakesh Mohan, Director General National Council of

    Applied Economic Research, New Delhi - Member

    (4) Shri H.D. Shourie, Consumer Activist, New Delhi - Member

    (5) Dr.S. Chakravarthy, Retired Member MRTP Commission,

    New Delhi - Member

    (6) Shri Sudhir Moolji, Economic Journalist, Mumbai - Member

    (7) Shri P.M. Narielwala, Chartered Accountant, Calcutta - Member

    (8) Ms. Pallavi Shroff , Advocate/Solicitor, New Delhi - Member

    (9) Shri G.P. Prabhu, Joint Secretary, D.C.A. Member – Secretary

  2. The Committee will function under the Chairman and would devise its own procedure under guidance of Chairman . The Committee may consult other experts in the field as may be considered necessary and will also consult Law Commission and incorporate their views in the report to be submitted to the Government . The Committee will submit its report within a period of three months from the date of its first meeting.

( R.D. JOSHI )

JOINT SECRETARY TO THE GOVERNMENT OF INDIA