But just to clarify: there is no “Companies Act, 2002” in India.
In India, the main corporate law is the Companies Act, 1956 (old law) and it was replaced by the Companies Act, 2013 (current law).
However, Competition Act, 2002 was passed in India to deal with anti-competitive practices.
In the UK, there was a Companies Act, 2002 (Amendment), but the main consolidated law is the Companies Act, 2006.
? Since your previous questions were about Indian corporate law, I’ll explain the Competition Act, 2002 (India) in detail — which is often confused with “Companies Act 2002.”
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Competition Act, 2002 (India) – Detailed Overview
The Competition Act, 2002 replaced the Monopolies and Restrictive Trade Practices Act (MRTP), 1969.
It regulates anti-competitive practices, promotes competition, and ensures consumer welfare.
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Objectives of the Act
1. Prevent practices having adverse effect on competition.
2. Promote and sustain market competition.
3. Protect the interests of consumers.
4. Ensure freedom of trade for market participants.
5. Regulate combinations (mergers, amalgamations, acquisitions) to avoid monopolies.
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Key Features of the Competition Act, 2002
1. Establishes the Competition Commission of India (CCI) as the regulatory authority.
