LS Passes Bill Seeking Amendment To Competition Act
Guwahati: The opposition’s demand for a JPC on the Adani problem and the disqualification of Rahul Gandhi caused interruptions in the two Houses when the Lok Sabha passed The Competition (Amendment) Bill, 2022 on Wednesday.
The Forest (Conservation) Amendment Bill, 2023 was also introduced in the Lok Sabha, while the Competition (Amendment) Bill was passed amid commotion and without debate. The bill was later referred to the joint committee of the two Houses after a move made in the House by Environment Minister Bhupender Yadav. The 1980 Forest (Conservation) Act is being further amended by the proposed legislation.
It should be noted that the Lok Sabha has not met for more than an hour on any one day throughout the second half of the budget session due to ongoing interruptions. According to PRS Legislative, a website that keeps track of parliamentary activity, the Rajya Sabha met for more than an hour on just one day to congratulate the Academy Award winners.
The administration introduced a number of revisions to the Competition (Amendment) Bill. It aims to clarify the Competition Act of 2002 by changing terms like “business,” “relevant product market,” “group,” and “control.”
It also aims to control mergers and acquisitions based on the dollar amount of transactions along with expanding the definition of anti-competitive agreements and adding a party that facilitates anti-competitive horizontal agreements to such agreements.
The Competition Act of 2002 was introduced to provide for the creation of a Commission to safeguard consumer interests, promote and sustain market competition, prevent actions that have a negative impact on it, and ensure other participants’ freedom of commerce across the nation.
Indian markets have expanded significantly, and business operations have undergone a paradigm shift. In light of these developments, as well as the emergence of various business models and the knowledge gained from the operation of the Commission, the Center established the Competition Law Review Committee to review the Act and make recommendations for changes.
The government decided it was essential to change the Act after reviewing the proposals put out by the Committee, holding public hearings, and in order to offer regulatory certainty and a business environment built on trust.
The bill includes provisions for “value of transaction” as an additional standard for alerting combinations to the Commission as well as the implementation of a Settlement and Commitment framework to reduce litigation.
Furthermore, the opposition members who have been calling for a joint parliamentary commission to look into the Hindenburg-Adani dispute have continued to cause disruptions in the Rajya Sabha. The two Houses won’t be in session on Friday. Before the start of the two Houses’ Wednesday session, leaders of different opposition parties with similar ideologies gathered in Mallikarjun Khargeji’s office as president of the Congress.
Rahul Gandhi, the leader of the Congress, was barred from the Lok Sabha, and Congress charged the government of applying different standards to different cases.
Party leader Shaktisinh Gohil claimed during a news conference at the party’s headquarters that Naranbhai Bhikhabhai Kachhadia, a BJP member from Amreli, was not disqualified despite serving a three-year sentence in a criminal case.
He claimed that despite representations from Congress officials following Kachhadia’s conviction in 2016, nothing was done. After paying a fine and receiving a new ticket from the party, Gohil claimed the BJP leader eventually received relief from the Supreme Court.
Rahul Gandhi was expelled from the Lok Sabha last week after being found guilty of criminal slander by a Surat court.