Pre-cum-Mains GS Foundation Program for UPSC 2026 | Starting from 5th Dec. 2024 Click Here for more information
News: An investigation by the Competition Commission of India has found food delivery giants Zomato and Swiggy breached competition laws by favouring select restaurants listed on the platforms.
1. Competition Commission of India is a statutory body established under the provisions of the Competition Act 2002.
2. It is responsible for promoting competition, preventing anti-competitive practices, protecting consumer interests and fostering market entry and growth.
3. The Commission consists of a chairperson and not less than two and not more than six other members appointed by the central government.
4. It has the power to investigate anti-competitive practices, abuse of dominant position, and mergers and acquisitions.
5. It can also issue cease and desist orders and impose penalties on companies found guilty of violating the provisions of the Competition Act, 2002.
6. The Commission has investigated high profile cases like Cement Cartel Case (2016), Vodafone-Idea Merger (2018), Amazon-Flipkart Acquisition (2018) etc.
7. It functions under the Ministry of Corporate Affairs.
