Coal India comes under Competition Act 2002– Recently Supreme Court released the notification of where PSU Coal India will come under the Competition Act, 2002, to adjust its monopoly in the coal sector in India.
Coal India comes under Competition Act 2002-What is the news
As per the latest notification, the Competition Commission of India (CCI) made PSU Coal India accountable for their action which help them in establishing a monopoly in the market of India, as they get governmental support from India. Now CIL had the right to seek compensation against the monopoly action of Coal India Limited.
The Supreme Court Bench comprising Justice K.M. Joseph, Justice B.V. Nagarathna, and Justice Ahsanuddin Amanullah had held that there is no merit in the contention that the Competition Act cannot be reconciled with the Coal Mines (Nationalisation) Act, where ruling empowers the CCI to investigate and penalize CIL for any anti-competitive practices in the coal sector.
Coal India comes under Competition Act 2002-Video
What does Competition Act 2002 apply to?
1) No enterprise or association of enterprises or person or association of persons shall enter into any agreement in respect of production, supply, distribution, storage, acquisition or control of goods or provision of services, which causes or is likely to cause an appreciable adverse effect on competition within
How many members are there in the Competition Commission?
CCI consists of a Chairperson and 6 Members appointed by the Central Government.
