Anti-Trust & Competition Law
Competition law controls that anti-competitive agreements (including cartels) and abuse of dominant positions. It regulates merger control transactions or combinations of enterprises. The hefty fines, prosecution and damages are levied by the Appellate Tribunal, constituted under the law can potentially have dire consequences having impact on the reputation and sustainability of enterprises. Financial limits, under the Competition Act, require detailed information on worldwide turnover and assets and seem complicated to analyse, in practice. The decisional practices of the Competition Commission, Appeallate Tribunal and the Supreme Court on substantive provisions of the law and of several High Courts on due process issues.