Competition Law MCQ Quiz in తెలుగు - Objective Question with Answer for Competition Law - ముఫ్త్ [PDF] డౌన్‌లోడ్ కరెన్

The correct option is ' Section 4'.

Key Points

• Section 4 of the Competition Act, 2002, explicitly prohibits any enterprise or group from abusing its dominant position.
• The concept of 'dominant position' refers to a situation where an enterprise holds a position of strength, enabling it to operate independently of competitive forces prevailing in the relevant market or to affect its competitors or consumers or the relevant market in its favor.
• Abuse of dominant position could include practices like predatory pricing, discriminatory conditions in purchase or sale of goods or services, and using one's dominant position to enter into or protect other markets.
• This provision is crucial for ensuring fair competition in the marketplace, preventing monopolistic practices, and protecting consumers' interests.
• Enforcement of this section is carried out by the Competition Commission of India (CCI), which can impose penalties on enterprises found to be abusing their dominant position.

Additional Information

• The Competition Act, 2002, was enacted to promote and sustain competition in markets, protect the interests of consumers, and ensure freedom of trade carried on by other participants, in markets in India.
• It replaced the Monopolies and Restrictive Trade Practices Act, 1969 and aims at modernizing the competition law to meet the needs of a fast-growing Indian economy.