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 m

m
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  is an important piece of
economic legislation designed to ensure that
the operation of the economic system does not
result in the concentration of economic power to
the common detriment.

The act came into force from 1st June, 1970,

and has been amended in 1991.
  
m

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ë egulation of ë ontrolling
monopolies and monopolistic trade
prevention of practices.
concentration of
economic power. ë egulating restrictive
ë
rohibit monopolistic, and unfair trade
restrictive and unfair practices.
trade practices.
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mt means in order to maximize profit and to
increase market power, certain business
firms unreasonably charge high prices to
prevent competition in the production &
distribution of goods by adopting unfair
trade practices.
mt is a trade practice which represents the
abuse of the market power by charging
unreasonably high prices.
 
 
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ë egulation of production and fixing the
term of sale.

ë
rohibiting any action that restricts

competition.

ë ixing standards for goods produced.

 

 

 

÷ trade practice which restricts or reduces
competition may be termed as estrictive
Trade
ractices and it harm the consumer
interest.
Because of their adverse effect on the
consumer and public interest, they are
sought to be regulated in almost every
country of the world.
 
 
 
ë The practice shall not be repeated.

ë The agreement shall be void and shall

stand modified in such a manner as may
be specified in the order.
 
   

 


—nfair trade practice means a trade practice

which, for the purpose of promoting the
sale, use or supply of any goods or for the
provision of any service, adopts any unfair
or deceptive practice.
 
 
 
ë The practice shall not be repeated.

ë ÷ny agreement relating to such an —T

shall be void or shall stand modified in
such a manner as may be directed by the
commission.
 


The M T
÷ct, besides adversely affecting
economic growth, blunted mndian
companies¶ ability to grow, consolidate
and improve competitiveness. This has
had a very dampening effect on their
global competitiveness.
  M:-

÷ ÷
K.V.