3rd Annual In-House Counsel Meet on Competition Law The Legal Era Competition Law Summit 2014 scheduled to be held on 13th December 2014 in Hotel Taj Mahal, New Delhi, India.
“Competition is always a good thing. It forces us to do our best. A monopoly renders people complacent and satisfied with mediocrity.” – Nancy Pearcey
With the advent of globalization, Indian enterprises started facing the heat of competition from domestic players as well as from global giants, which called for level playing field and investor-friendly environment. Hence, it became the need of the hour for competition laws to shift the focus from curbing monopolies to encouraging companies to invest and grow, thereby promoting competition while preventing any abuse of market power. The Indian Competition Act enacted by parliament in 2002, replaced The Monopolies and Restrictive Trade Practices Act, 1969, shifting the focus of law from curbing monopolies to promoting competition. In 2009, the government of India introduced provisions to the Act such as prohibition of anti-competitive agreements and prohibition of abuse of dominant position. These were meant to protect consumer interest while further enhancing competition in the marketplace.
With a view to ensuring compliance, the Competition Commission of India (CCI), a regulator and quasi-judicial body meant to “promote and sustain competition” imposed huge penalties on defaulters, the highest till date being Rs 14,000 crore. Even recently, to give more teeth to the Competition Act as well as come to the rescue of lakhs of car owners, the CCI passed an order asking automobile manufacturers to make available their branded spare parts and diagnostic tools to independent repair workshops alleging that these car makers were indulging in “abuse of dominance” of the market. A total penalty of over Rs 2,500 crore was imposed on 14 auto makers for unfair trade practices in spare parts and after sales services.
Given the significance of competition law vis-à-vis consumer protection and curbing of unfair trade practices, the summit brings together legal and competition experts, in-house counsels, practitioners and academics to share their expertise and updates on Competition Law and anti-trust issues in the Global and Asia-Pacific regions. The Competition Law Summit aims to establish fairness of commercial conduct among entrepreneurs and competitors which are the sources of competition and innovation and brings together public and private sectors on a pan-Asia knowledge platform. We look forward to welcoming you again at this very competitive occasion.
Key Discussion areas:
- Competition, consumer and the motor companies – A Case study
- WTO and Free trade agreements
- Abuse of Dominance
- Mergers, Joint Ventures and CCI
- Competition Issues and Intellectual Property Rights
- Compliance to prevent huge CCI fines
who should attend: