With reference to the Competition Commission of India CCI consider the following statements It is a ...........

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With reference to the Competition Commission of India (CCI), consider the following statements.

It is a quasi-judicial statutory body.
It is required to give opinion on competition issues on reference received from statutory authorities.
It has the power of imposing fines of private players for unfair business practices.
It jurisdiction does not extend to Public Sector Units (PSUs).

Select the correct answer using the codes below.

1, 2 and 3 only

2, 3 and 4 only

1, 3 and 4 only

2 and 4 only

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Explanation:

Statement 1: CCI is quasi-judicial statutory body established under The Competition Act, 2002. It consists of Chairperson and 6 Members appointed by Central Government.

Statement 2: CCI aims to eliminate practices that adversely affect competition in different industries and protect interests of consumers and ensure freedom of trade. Its mandate is to eliminate practices having adverse effect on competition, promote and sustain competition, protect interests of consumers and ensure freedom of trade in markets of India. It is also required to give opinion on competition issues on reference received from statutory authority established under any law and undertakes competition advocacy, create public awareness and impart training on competition issues.

Statement 3: For e.g. CCI has imposed fine of more than Rs. 54 crore recently on Jet Airways, InterGlobe Aviation and SpiceJet for unfair business practices with respect to fixing fuel surcharge on cargo transport.

Statement 4: CCI imposed a penalty of ?591.01 crore in 2017 upon Coal India Limited (CIL) on finding that CIL and its subsidiaries violated the Competition Act by imposing unfair and discriminatory conditions in Fuel Supply Agreements (FSAs) with power producers for supply of non-coking coal.