Competition Law Review Committee (CLRC) Report: July 2019
To comprehensively review and recommend changes to the Competition Act, 2002, and the Rules and Regulations framed thereunder
Summary: Vidhi provided research and drafting assistance to the CLRC, constituted by the Ministry of Corporate Affairs, to thoroughly review and suggest amendments to the competition law framework in India.
A decade-long enforcement experience of the relatively nascent competition regime in India, has brought certain shortcomings of the same, to the forefront. These include, inter alia, the emergence of disruptive business models and practices which are not covered adequately by the extant regulatory framework, and a need to review the regulation of combinations in light of the growing importance of mergers and acquisitions to the country’s economy.
The Ministry of Corporate Affairs accordingly constituted the Competition Law Review Committee (“Committee”) to facilitate the creation of a robust competition regime by suggesting substantive and procedural changes to the law. Vidhi was engaged to provide research and drafting assistance to the Committee.
Vidhi played a key role by making detailed presentations to streamline discussions of the CLRC, participating in discussions of working groups constituted by the Committee, providing research assistance including comparative international practices, analysing public comments received by the Committee and preparing a draft Report for the Committee.