Competition Commission of India (CCI):
Union Minister for Finance and Corporate Affairs inaugurated the Competition Commission of India’s (CCI) Regional Office (South) in Chennai.
- Status: A statutory body established under the provisions of The Competition Act, 2002.
- Established in: 2003.
- A Chairperson and 6 Members appointed by the Central Government.
- Headquarters: New Delhi.
- Preceding agency: Monopolies and Restrictive Trade Practices Commission.
Mandate:
- To implement provisions of The Competition Act, 2002 which –
- prohibits anti-competitive agreements and abuse of dominant position by enterprises
- regulates mergers and acquisition (M&A) which can have an adverse effect on competition within India. Thus, deals beyond a certain threshold are required to get clearance from CCI.
