JEMTEC

“A world class legal system is absolutely essential to support an economy that aims world class”. P. Chidambaram The constitution of India, under its Article 38 and 39, mandates for setting up a social order for the promotion and welfare of its citizens. Article 39 (c) strives to prevent the concentration of wealth and means of production to the common detriment. Economic justice and fundamental right to freedom of trade to the citizens are also guaranteed. Over years, India has taken a number of progressive steps to promote these ideals. The Monopolistic and Restrictive Trade Practice Act, 1969 was one such act. It was enacted with the objective of controlling monopolies and preventing economic concentration. After the 1991economic reforms of liberalization, privitisation and globlisation, the Indian market witnessed a spurt in the competition. The competition became rife not only within the country but also from international players who started venturing into the local and...