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The Competition Act 2002 defines anti-competitive agreements as such in Section 3, which states that “no company or association of companies or individuals or associations of individuals may enter into an agreement on the production, supply, distribution, storage, acquisition or control of goods or services that could affect competition in the Indian market.” An agreement resulting from the resulting business relationship can be considered a child of commerce or commerce. A contractual agreement can be defined as an acceptance of an offer. Agreements that generally have a detrimental effect or that distort or restrict competition are called anti-competitive agreements. In Section 3 of the Competition Act, 2002, anti-competitive agreements are defined as agreements for the production, supply, distribution, storage, purchase and control of goods or services that significantly affect competition in India. The negative effect on competition is not a specific list of agreements, but on specific economic consequences that can result from very different types of agreements at different times and circumstances. It generally refers to any act detrimental to public interests by excessively limiting competition or by excessively impeding good commercial activity. In addition, it should be noted that Article 2 (b) of the Act provides that “agreement” includes any agreement, agreement or act in consultation – (i) if such an agreement is an agreement, agreement or written act; or (ii) whether such an agreement, understanding or act is to be enforceable through judicial proceedings. So even the oral injunction can be anti-competitive. Agreements between parties that are not formalized or that, if not written, but not executed or registered, may also be considered anti-competitive if it is established that aAEC owns aAEC in India. The nature of restrictive competitive business practices under the MRTP Act 1969 was considered to be under anti-competitive agreements, as indicated in the Competition Act 2002.
Companies in the market enter into agreements that have the potential to reduce, reduce, eliminate, distort and limit competition. To promote fair competition, catch up with the global economy, protect consumer interests and ensure a stable market for India. In this blog post, Harsha Asnani, student, NIRMA University, Ahmedabad, writes about anti-competitive agreements in light of the Competition Act, 2002. The author also writes about the nature of such agreements and the remedies for the same. Article 19, paragraph 1 of the Act provides that, in the event of payment of the fees and the prescribed terms, the ICC may request any alleged violation of Section 3 (1) of the Act itself or in the case of receiving information from individuals, consumers or their association or professional association.