In which year Competition Commission of India was established?
A2002
B2003
C2004
D2005
Answer:
B. 2003
Read Explanation:
The Competition Commission of India (CCI) is the chief national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 in order to promote competition and prevent activities that have an appreciable adverse effect on competition in India. The CCI looks into cases and investigate it if the same has negative impact on competition CCI also approves combination under the act so that two merging entities do not overtake the market The commission was established on 14 October 2003. It became fully functional in May 2009 with Dhanendra Kumar as its first Chairman