Finance Minister Smt. Nirmala Sitharaman inaugurates Competition Commission of India’s South Regional Office in Chennai

Finance Minister Smt. Nirmala Sitharaman inaugurates Competition Commission of India’s South Regional Office in Chennai

 

Competition Commission of India (CCI) is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 and promoting competition throughout India and to prevent activities that have an appreciable adverse effect on competition in India. It was established on 14 October 2003 and currently has its Head Office at New Delhi

The primary enforcement domains of CCI are prohibition of cartels and abuse of dominant position. CCI also regulates mergers and acquisitions of companies beyond the prescribed financial thresholds. The commendable enforcements of CCI include ≈INR 6700 crore penalty on 11 cement companies for cartelization to jointly rise price of cement and ≈INR 2500 crore penalty on car manufacturers for not making their spare parts available on fair terms.

The Hon’ble FM Nirmala Sitharaman has inaugurated the first Regional Office of CCI in Chennai. The Chennai Office will facilitate enforcement, investigation, advocacy function in coordination with Delhi office. This regional office will cater to the requirements of Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana and the Union Territories Puducherry and Lakshadweep.

Similar to the Chennai Office, CCI also plans to have regional presence in Mumbai and Kolkata to have effective presence across the nation.

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