CCI Chairperson Appointment
Ravneet Kaur has been appointed as the Chairperson of the Competition Commission of India (CCI) by the government. This appointment comes after the vacancy of a full-time Chairperson since October 2022 when Ashok Kumar Gupta left the office. In the interim period, CCI Member Sangeeta Verma has been serving as the acting Chairperson since October of the previous year.
Ravneet Kaur, a senior officer of the Indian Administrative Service (IAS) from the Punjab cadre, has been appointed as the Chairperson of the Competition Commission of India. Her appointment is for a tenure of five years or until she reaches the age of 65, whichever comes first. The decision was made by the government and the official order was issued on May 15. This appointment will bring stability and leadership to the competition regulator, which has been functioning without a full-time Chairperson since October 2022.
The newly appointed Chairperson of the CCI will receive a consolidated monthly salary of ₹ 4.50 Lakh without the facilities of a home and car.
About the Competition Commission of India
The Competition Commission of India is a statutory body established under the Competition Act, of 2002. Its primary objective is to promote fair competition in the Indian market and prevent practices that have an adverse effect on competition. The CCI is responsible for enforcing competition laws and regulations to ensure a level playing field for businesses and protect the interests of consumers.
The key functions of the CCI include
- Investigating anti-competitive practices such as abuse of dominant position, anti-competitive agreements, and mergers and acquisitions that may have an adverse impact on competition.
- Taking appropriate actions against entities found to be engaged in anti-competitive practices, including imposing penalties and issuing cease and desist orders.
- Promoting competition advocacy and creating awareness about competition laws among businesses, consumers, and other stakeholders.
- Reviewing and approving mergers and acquisitions that meet certain thresholds to ensure they do not significantly harm competition in the market.
- Conducting market studies and research to identify sectors and practices that may require regulatory intervention to promote competition.
The CCI consists of a Chairperson and other members appointed by the Central Government. It plays a crucial role in fostering a competitive business environment in India, encouraging innovation, and protecting the interests of consumers.
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