Ordinance to wind up MRTPC soon

40-yr-old MRTPC,that had 2 more yrs,will shut shop this yr....

With the Competition Commission of India now fully operational,the Ministry of Corporate Affairs is considering an ordinance to wind up the Monopolistic and Restrictive Trade Practices Commission,in the next couple of weeks. The MRTPC was originally to exist till 2011.

The reason for advancing the dissolution of MRTPC,sources in the government said,was the governments inability to appoint a chairman and members to the Commission. Section 66 of the Competition Act,notified in September,states that the MRTPC will stop taking fresh cases. On completion of two years,pending cases will be transferred to the Competition Commission of India (CCI).

With few bureaucrats willing to join an organisation that has just two years to go,the ministry has decided to wind it up at the earliest. The sources said pending work with the MRTPC can easily be taken up by the Competition Appellate Tribunal (CAT) or the National Consumer Forum.

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“The government has no plans to hire people for MRTPC now. The decision to the effect was taken last week and an ordinance is to be sent to the President this week, the sources said.

Set up in 1970 with the mandate to check the monopolistic and restrictive policies of companies,the MRTPC has been functioning without a chairman since O P Dwivedi retired in March.

The CCI was operationalised early this year with the appointment of Dhanendra Kumar as its chairman. Later,the government notified Section 3 and 4 pertaining to abuse of dominance and anti-competitive agreements,thereby authorizing the CCI to take up cases related to cartelization and abuse of dominant position. However,it is yet to notify sections relating to mergers and acquisitions.

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