The Indian National Bar Association, incorporated as a non-profit, non-political, non-governmental association, considered as one of the most prestigious organizations for the legal professionals nationwide, whose main objective is to act as prominent body to represent the whole Indian legal community, to bring the reforms in the Indian legal systems and Indian Government bureaucratic rules and regulations. The organization is encompassed with legal fraternity and professionals, leading lawyers, NGOs, associations and individuals with similar interests.
The Organization wants to give the basic concepts of Competition Law to its members, the most interesting and must-know subject. In our day to day life, we use numerous branded commodities such as gadgets for entertainment, drugs and healthcare. Our life almost mixed up with so many brands of commodities and services, without which it would be difficult for us to lead a smooth life. The other truth is that without knowing ourselves we are very much conscious about selecting the brands for different commodities/services mainly to get quality product/services, as we think that they are essential for us to lead a quality life. We see wide range of commodities in the market with different brands. In this aspects, we however need to think that how these companies are being regulated in the domestic and international markets, whether any competitor is leading the market, if so, whether such company dominates and is involved in doing any practices of manipulating the price of the commodity absurdly and causing huge loss to the consumers; the last, but not the least is that whether consumer interests are protected or not is the ultimate thing to be given priority. The said concept is called Centralized Planning. Over the period of time, the concept shifted to Capitalism. In the commercial sector, market forces are being relied more than need of the people, which led not only to fulfillment of needs of the consumers but also guaranteed the benefits to the stakeholders who contributed their efforts to fulfill the needs of population by the way of giving profits. Relying on market forces is known as “Capitalism”. To give awareness on all these issues to the members, The Indian National Bar Association arranged a Webinar session on an “Overview of the Competition Law” to be held on Saturday i.e. on February 28, 2015 at 11. 11 am.
The Webinar program is free of charge for all the members of the Association wherein members could learn the following topics in Competition Law:
- Background of Competition law – GATT negotiations in 1947 that dealt with proposals for obligations with respect to international competition, creating WHO in 1995 discussed cross border competition issues, and discuss the issues necessitated to draft completion law in UK, India, and other countries.
- History of Competition Law India – a brief discussion on export group appointed by Union Ministry of Commerce to study on anti-competitive practices and impacts of mergers and amalgamations etc..
- Why we need competition law – to prevent adverse affect of competition, to promote healthy competition, to protect interests of consumers and to ensure the freedom of trade by other participants in Indian markets, regulation of combinations of enterprises.
- Learn about New Competition Law in India – about its procedure which is found to be simple and flexible and could be a compliance oriented law, anti-competitive agreements, prohibition of abuse of dominant position, Competition Commission of India, unfair trade practices,.
- Compliance under Competition Law –Competition Law’s main aim is to regulate completions in the market. In the said regulation, if any company violates the provisions of competition law, may need to face stringent actions and huge amount of penalties. To avoid such penalties, law seeks the companies to comply the provisions that they ought to. Therefore in this area, compliance is required.
by Anitha Gutti
Venue : Indian National Bar Association , A-298, New Friends Colony - New Delhi; Ph: 011 – 41640705. Website: www.indianbarassociation.org