Consider the following statements regarding Competititon Commission of India 1 It is statutory body ...........

Economic Affairs Industrial Policy and Industrial Growth

Consider the following statements regarding Competititon Commission of India:

1. It is statutory body formed under Monopolies and Restrictive Trade Practices Commission Act, 1969.

2. It’s an independent body responsible for investigating mergers, acquisition and pricing strategy by the different companies.

Which of the statement(s) given above is/are incorrect?

1 only

2 only

both 1 and 2

none of the above

About Competition Commission of India

It is a statutory body of the Government of India, responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition.
It’s an independent body responsible for investigating mergers, acquisition and pricing strategy by the different companies.
CCI had replaced the Monopolies and Restrictive Trade Practices Commission, 1969.