Report on Systematizing Fairplay – Key Issues in the Indian Competition Law Regime

Reports by Corporate & Financial Law · November 25, 2017
Author(s): Vedika Mittal, Shehnaz Ahmed, Param Pandya, Debanshu Mukherjee, Joyjayanti Chatterjee and Ritwika Sharma

Since the enactment of the Competition Act in 2002, the business milieu has changed considerably globally and in India. More and more businesses are now being run in the virtual world and newer models of business exist now which would have been inconceivable a decade ago. Given the intertwined relationship of competition law and the markets, in order for the law to remain relevant, it is imperative that it develops in line with market realities and revamps from time to time.

Almost 15 years have elapsed since the inception of the Competition Act and it is now an opportune time to take stock of its performance and devise a workable way forward. In this Report, we therefore, identify key structural and procedural issues in the Indian competition law framework and discuss relevant experiences from the European Union and Singapore, to understand how similar concerns are addressed by their regulatory frameworks. Drawing from these practices, we provide key recommendations to deal with these concerns in the Indian context. As India gears up to meet the challenges posed by a buoyant economy, it needs to cure these anomalies in its competition law framework to be able to fully reap the benefits of a thriving market-based economy.

Download the full report on Systematizing Fairplay – ‘Key Issues in the Indian Competition Law Regime


About Vedika Mittal:

Vedika is a Senior Resident Fellow with the Corporate Law and Financial Regulation team. Her areas of interest are competition law, insolvency law and corporate governance. At Vidhi, she has worked on a diverse range of projects including research and drafting support for amendments to the Competition Act, 2002 and the Insolvency and Bankruptcy Code 2016, adoption of the UNCITRAL Model Law on Cross-Border Insolvency, review of offences under the Companies Act, 2013 and simplification of the GST returns filing system. Vedika completed her B.A. LL.B. (Hons.) from Gujarat National Law University in 2011 and an MCL from University of Cambridge in 2014 where she was ranked 2nd in her cohort. Apart from writing for leading newspapers, Vedika has contributed to panel discussions and conferences in the area of cross-border insolvency including the Annual Global Insolvency and Restructuring Conference organised by the International Bar Association. Prior to joining Vidhi, she worked in the Chambers of Mr. Dayan Krishnan, Senior Advocate. She has also worked as the Khaitan & Co. Research Fellow for Mergers and Acquisition at Gujarat National Law University and as an associate in the Capital Markets team at Amarchand Mangaldas, Mumbai.. She has also authored independent reports in areas including competition law and corporate governance of PSU’s.


About Shehnaz Ahmed:

Shehnaz is a Senior Resident Fellow with the Corporate Law and Financial Regulation vertical. Her areas of interest include the intersection of law and digital economy and business and human rights. At Vidhi, she has worked with various Ministries/Departments and a multilateral institution on various projects involving research and drafting support on areas diverse areas including financial resolution, digital economy (including payment systems law), business and human rights and competition law. Shehnaz graduated from RML National Law University in 2011. She has authored independent projects on tech-based interventions for regulating payment wallets, blueprint of a National Health Insurance Law and reforms for competition law. Prior to joining Vidhi, she headed a law firm (Zeta Law Chambers) co-founded by her, the Financial Regulatory Practice at Cyril Amarchand Mangaldas, Mumbai and the Dispute Resolution team at J. Sagar Associates. She has written for publications such as Oxford Business Law Blog, Financial Express, Firstpost and Business Standard.


About Param Pandya:

Param is a Research Fellow in the Corporate Law and Financial Regulation vertical. Prior to joining Vidhi, he worked in the General Corporate team at Cyril Amarchand Mangaldas, Mumbai (CAM), a leading law firm. His areas of interest include banking and corporate governance. He graduated with a B.Com. (LL.B.) (Hons.) from the Gujarat National Law University, Gandhinagar in 2015.


About Debanshu Mukherjee:

Debanshu is part of the founding team at Vidhi and leads its Corporate Law and Financial Regulation vertical. He graduated from the Hidayatullah National Law University and completed his graduate studies at Harvard University and the University of Oxford. He attended Harvard Law School as a Fulbright- Nehru Fellow where he was awarded the Irving Oberman Memorial Writing Prize in Bankruptcy and the Dean's Scholar Prize in Corporations. He has advised the Ministry of Finance, the Ministry of Corporate Affairs, the RBI and the IBBI on projects relating to bankruptcy, corporate law, and financial regulation. He was previously a lawyer with AZB & Partners. Link to full bio


About Joyjayanti Chatterjee:


About Ritwika Sharma: