Government sets up Competition Law Review Committee
New Delhi, Sep 30 : The government has formed a Competition Law Review Committee to ensure that the legislation is in tune with the changing business environment, according to an official announcement on Sunday.
A Finance Ministry release said that the committee will review the competition regulations in view of changing business environment and suggest the necessary changes.
Among the panel's mandate is also to look into international best practices in the competition field with a thrust on anti-trust laws, merger guidelines and handling cross-border competition issues.
"In pursuance of its objective of ensuring that legislation is in sync with the needs of strong economic fundamentals, the government has constituted a Competition Law Review Committee to review the Competition Act," it said.
"In this context, it is essential that the Competition Law is strengthened, and re-calibrated to promote best practices which result in the citizens of this country achieving their aspirations and value for money."
The committee will also study other regulatory regimes, institutional mechanisms and government policies which overlap with the Competition Act.
The committee consists of the Corporate Affairs Secretary, Competition Commision of India Chairperson, the Insolvency and Bankruptcy Board of India Chairperson, Haigreve Khaitan from Khaitan & Co, Shardul Amarchand Mangaldas and Co Advocate Pallavi Shardul Shroff, former IAS officer S. Chakravarthy, Delhi School of Economics Professor Aditya Bhattacharjea and Corporate Affairs Joint Secretary (Competition), the statement said.
The committee will submit its report within three months of the date of its first meeting, it added.
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My party will complete 5-year term, says CM Siddaramaiah
Mysuru (Karnataka) (PTI): Karnataka Chief Minister Siddaramaiah on Wednesday asserted that the Congress government would complete its five-year term, while sidestepping questions on whether he personally would remain in office for the full duration.
Addressing reporters here, he maintained that decisions on the leadership would rest with the party high command and refrained from giving a direct answer on his own tenure.
“Our party will complete five years,” Siddaramaiah said, when asked if he would complete a full term as Chief Minister.
On the issue of leadership, he reiterated that the final call would be taken by the party leadership, saying, “The high command will decide. There’s no point asking the same thing again.”
Indicating his readiness to travel to the national capital if required, he said, “If I am called to Delhi, I will go,” adding that he would seek an appointment with Rahul Gandhi if needed.
The talks on leadership change have intensified in the power corridor of the state where claims were made that Siddaramaiah would make way for his Deputy Chief Minister D K Shivakumar.
The Chief Minister also underlined that recent by-election victories in Bagalkote and Davanagere South assembly segment reflected public support for the government, stating that this clearly shows that people have appreciated the Congress government and its programmes.
The CM also dismissed the opposition’s claims, alleging they lacked strategy, and said local body elections would be conducted as per rules.
