Section 10 of the MRTP Act, empowers the MRTP Commission to enquire into monopolistic or restrictive trade practices upon a reference from the . On the basis of recommendation of Dutt Committee, MRTP Act was enacted in to ensure that. THE MONOPOLIES AND RESTRICTIVE TRADE PRACTICES (MRTP) ACT, By: Amit Kumar Giri PGDM Sec.A Roll No. 13 IIMT Professional College Thi. .
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If it is of opinion that the working of an undertaking is prejudicial acct the public interest, or has led, or is leading, or is likely to lead, to the adoption of any monopolistic or restrictive trade practices, inquire as to whether it is expedient in the mmrtp interest to make an order, —.
In determining, for the purposes of clause cwhether or not any undertaking is owned or controlled by a corporation, the rmtp held by financial institutions shall not be taken into account. Inquire 83 as to whether it is expedient in the public interest to make an order for the severance of 19969 inter-connection on one or more of the grounds aforesaid, and the Commission may, after such hearings as it think fit, report to the Central Government its opinion thereon and shall, where it is of opinion that the severance of the inter-connection of the principal undertaking with any other undertaking ought to be made, include in its report a scheme with respect to such severance, providing therein for the matters specified in sub-section 2.
Monopolies and Restrictive Trade Practices Act – General Knowledge Today
In determining whether or not two or more bodies corporate are under the same management, the shares acf by financial institutions in such bodies corporate shall not be taken into account. No Court inferior to that of a Court of Session shall try any offence under this Act.
For the removal of doubts, it is hereby declared that an investment company shall mgtp deemed, for the purposes of this Act, to be an undertaking. The Commission may, before issuing any process requiring the attendance of the person against whom an 19669 other than an inquiry upon an application by the Director General may be made under section 36B, by an order, require the Director General to make, or cause to be made, a preliminary investigation in such manner as it may direct and submit a report to the Commission, for the purpose of satisfying itself that the matter requires to be inquired into.
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If any person discloses an information in contravention of section 60, he shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to five hundred rupees, or with both. Monopolistic and Restrictive Trade Practice.
Provided that the Court may, for reasons to be recorded in writing, impose a sentence of imprisonment for a zct lesser than the minimum term specified in this sub-section. For the purposes of this section all activities carried on by way of trade by an undertakings or two or more inter-connected undertaking may be treated as a single trade. Where any agreement subject to registration under this section relates to the production, storage, supply, distribution or control of goods or the performance of any services in India and any party to the agreement carries on business in India, the agreement shall be deemed to be an agreement within the meaning of this section, notwithstanding that any other wct to the agreement does not carry on business in India.
Unless the Central Government otherwise directs, this act shall not apply to: Provided that where a defence is raised to the effect that such warranty or guarantee is based on adequate or proper test, the burden acf proof of such defence shall lie on the person raising such defence.
Any undertaking owned or controlled by the Government Company, Any undertaking owned or controlled by the Government, Any undertaking owned or controlled by a corporation not being a company established by or under any Central, Provincial or State Act, Any trade union or other association of workmen or employees formed for their own reasonable protection as such workmen or employees, Any undertaking engaged in an industry, the management of which has been taken over by any person or body of persons under powers by rmtp Central Government, Any undertaking owned by a co-operative society formed and registered under any Central, Provincial or state Act, Any financial institution.
For the purposes of this clause, a body corporate, which is, or has been, engaged only in the business of acquiring holding, underwriting or dealing with shares, debentures or other securities of any other body corporate shall be deemed to be an undertaking.
Where specific recommendations, whether express or implied, are made by or on behalf of a trade association to its members, or to any class of its members, as to the action to be taken or not 19969 be taken by them in relation to any matter affecting the trade conditions of those members, this section shall apply in relation to the agreement for the constitution of the association notwithstanding any provision to the contrary therein as if it contained a term by mrfp each such member and any person represented on the association by any such member agreed with the association to comply with those recommendations and any subsequent recommendations affecting those acf.
In determining, with reference to the features specified in sub-clause iii sub clause ivas the case may be, the question as to whether an undertaking is or is not a dominant undertaking, regard shall be had to —. III where any person is an associated person in relation to another, the latter shall also be mrtl to be an associated person in relation to the former.
Monopolistic and Restrictive Trade Practice Monopolistic and Restrictive Trade Practice under MRTP Act, The Monopolistic and Restrictive Trade Practices Act,was enacted To ensure that the operation of the economic system does not result in the concentration of economic power in hands of few, To provide for the control of monopolies, and Mrpt prohibit monopolistic and restrictive trade practices.
Provided that no member shall hold office as such for a total period exceeding ten years, or after he has attained the age of sixty-five years, whichever is earlier. The Central Government may, in its order under the said section 27 or section 27A, specify that such disinvestments of shares or the sale of the whole or part of the undertaking or undertakings or of such assets, as the case may be, shall be effected within such period and in such one or more of the following methods as may be specified in such order, namely: Without prejudice to the provisions of section 12A, section 12B and section 36D, the Commission, Director General or any other person authorised in this behalf by the Commission or Director General, may exercise, or perform, in relation to any unfair trade practice, the same power of duty which it or he is empowered, or required, by or under this Act to exercise, or perform, in relation to a restrictive trade practice.
If two or more bodies corporate under the same management hold, in the aggregate, not less than one-fourth equity share capital in any other body corporate, such other body corporate shall be deemed to be under the same management as the first mentioned bodies corporate. Dishonour of Cheque — Section of the Negotiable instruments Act. The question as to whether any undertaking, either by itself or along with inter-connected undertakings, produces, supplies, distributes or controls one-fourth of any goods or provides or controls one-fourth of any services may be determined according to any of the following criteria, namely, value, cost, price, quantity or capacity of the goods or services.
For the purposes of this section, an inquiry shall be deemed to have commenced upon the receipt by the Commission of any complaint, reference, or, as the case may be, application or upon its own knowledge or information reduced to writing by the Commission.
Provided that the remuneration of the Chairman or any other member shall not be varied to his disadvantage after his appointment. Provided that the Court may, for reasons to be recorded in writing, impose a sentence of imprisonment for a term lesser than the minimum term specified in this section.
No statement made by a person in the course of giving evidence before the Commission shall subject him to, or be used against him in, any civil or criminal proceeding except a prosecution for giving false evidence by such statements:.
A wholesaler or retailer is said to use goods as loss leaders when he re-sells them otherwise than in a genuine seasonal or clearance sale not for the purpose of making a profit on the resale but for the purpose of attracting to the establishment at which the goods are sold, customers likely to purchase other goods or otherwise for the purpose of advertising his business. To provide for the control of monopolies, and.
The Monopolies and Restrictive Trade Practices Act,
For the removal of doubts, it is hereby declared that the power of the Commission with respect to temporary injunction includes power to grant a temporary injunction without giving notice to the opposite party.
This site uses Akismet to reduce spam. For the purposes of this Act, two bodies corporate, shall be deemed to be under the same management, —. Provided that different days may be appointed for different categories of agreements. Any person aggrieved by any decision on any question referred to in clause aclause b or clause c of section 2A, or any order made by the Central Government under Chapter III or Chapter IV, or, as the case may be, or the Commission under section 12A or section 13 or section 36D or section 37, may, within sixty days from the date of the order, prefer an appeal to the Supreme Court on one or more of the grounds specified in section of the Code of Civil Procedure, 5 of Provided that the Central Government may extend on its own motion or on the application of the person concerned and for sufficient cause, the period specified as aforesaid in any order made by it under section 27 or section 27A by another order.
If a group exercises control over a body corporate, that body corporate and every other body corporate, which is a constituent of or controlled by, the group shall be deemed to be under the same management. Under this Act in relation to any matter, impose such conditions, limitations or restrictions as it may think fit.
Monopolies and Restrictive Trade Practices Act 1970
If in any application, return, report, certificate, balance sheet, prospectus, statement or other document made, submitted, furnished or produced for the purpose of any provision of this Act, any person makes a statement, —.
The Commission shall have, and exercise the same jurisdiction, powers and authority in respect of contempt of itself as a High Court has and may exercise and, for this purpose, the provisions of the Contempt of Courts Act, 70 of shall have effect subject to the modifications that —.
Where goods produced in India by mryp undertaking have been exported to a country outside India, then the goods so exported shall not be taken into account in computing for the purposes of this clause —. He shall be punishable with imprisonment for a term which may extend to two years and shall also be liable to fine. The Commission shall mrt; an authenticated copy of every order made by it in respect of a restrictive trade practice or an unfair trade practice, as the case may be, to be forwarded to the Director General who shall have it recorded in such manner as may be prescribed.
Where any goods are the subject of different forms of production, supply, distribution or control, every reference rmtp this Act to such goods shall be construed as mrpt to any of those forms of production, supply, distribution or control, whether taken separately or together or in such groups as may be prescribed. If any person contravenes the provisions of section 39 or section 40, he shall be punishable with imprisonment for a term which may extend to three months, or with fine which may extend to five thousand rupees, or with both.
For the purposes of this Act, every monopolistic trade practice shall be deemed to be prejudicial to the public interest, except where —. Where an agreement is made by a trade association the agreement for the purposes of this section shall be deemed to be made by all persons who are members of the association or represented thereon as if each such person were a party to the agreement.
An Act to provide that the operation of the economic nrtp does not result in the concentration of economic power to the common detriment, for the control of monopolies, for the prohibition of monopolistic and restrictive trade practices and for matters connected therewith or incidental thereto.
In determining the question mmrtp to whether an undertaking is or is not a dominant undertaking in relation to any goods supplied, distributed or controlled in India, regard shall be had to the average annual quantity of such goods supplied, distributed or controlled in India by the undertaking during the relevant period. Every order made by the Commission under section 12A granting a temporary injunction or under section 12B directing the owner of an undertaking or other person to make payment of any amount, may be enforced by the Commission in the same manner as if it were a decree or order made by a court in an suit pending therein and it shall be lawful for the Commission to send, in the event of its inability to execute it, such order to the court within the local limits of whose jurisdiction, —.
Unless the Central Government, by notification otherwise directs, this Act shall not apply to —. The Central Government shall cause to be laid before both Houses of Parliament an annual report, and every report which may be submitted to it by the Commission from time to time, pertaining to the execution of the provisions of this Act.
Notwithstanding anything contained in any other law for the time being in force, the Central Government may, by a general or special order, call upon the owner of any undertaking to furnish to that Government periodically or as and when required any information concerning the activities carried on by the undertaking, mrrp connection between it and any other undertaking, including such other information relating to its organisation, business, cost of production, conduct, trade practice or management, as may be prescribed to enable that Mrfp to carry out the purposes of this Act.