What is the Full Form of MRTPC?

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The full form of MRTPC is Monopolies and Restrictive Trade Practices Commission. It is a quasi-judicial body established under the Monopolies and Restrictive Trade Practices Act (MRTP Act), 1969. The main objective of the Commission is to prevent the concentration of economic power in the hands of a few and to promote competition in the Indian market.

Power and Role of MRTPC

The Commission has a wide range of powers, including the power to:

  • Investigate complaints of monopolistic and restrictive trade practices.
  • Issue cease-and-desist orders to stop monopolistic and restrictive trade practices.
  • Break up large undertakings into smaller units.
  • Regulate the mergers and acquisitions of large undertakings.

The Commission plays an important role in promoting competition and protecting consumers by investigating and adjudicating upon cases involving monopolistic and restrictive trade practices. 

Also Read – What is the full form of CAIT?

Examples of its Functions

Here are some examples of how the commission has promoted competition and protected consumers:

  • In the 1980s, the commission investigated and broke up the Birla Group, which was one of the largest conglomerates in India. The break-up of the Birla Group led to increased competition in the Indian market.
  • In the 2000s, the MRTP Commission investigated and stopped a number of cartels in the Indian market, including cartels in the cement industry, the steel industry, and the pharmaceutical industry. The stopping of these cartels led to lower prices for consumers.
  • The commission has also played a role in regulating mergers and acquisitions in the Indian market. For example, in 2007, the commission approved the merger of Larsen & Toubro and Ceat Tyres, but only after the two companies agreed to certain divestments to ensure competition.

The MRTP Commission is an important institution for promoting competition and protecting consumers in India. It has played an important role in increasing competition in the Indian market and in lowering prices for consumers.

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