Competition Commission of India (CCI) has armed itself with help from industry veterans to advise the fledgling anti-trust regulator in a fast-changing environment dominated by complex deals.
Infosys co-founder NR Narayana Murthy, Biocon chairman Kiran Mazumdar Shaw, former Reserve Bank of India deputy governor Rakesh Mohan and former Indian Institute of Management director Bakul Dhokalia are among those who are part of an eight-member group tasked with the mandate to advise CCI on issues ranging from monopolistic practices to cartel formation.
The group, which also includes Rohini Nilekani, chairperson and founder of Arghyam public charitable foundation and Infosys co-founder Nandan Nilekani's wife, is also a member of the group that will oversee competition laws and policies.
“We have formed an advisory group with eminent persons so that they can share their experiences and inputs in the field of competition and thereby help in upholding fair play,” Ashok Chawla, chairperson, CCI told Hindustan Times.
The move is part of the regulator’s efforts to equip itself with expertise to deal with complex deals manipulated to help reap extra-normal profits through monopoly-like market structures.
Shaw confirmed that the advisory group has been formed and she would be part of it. “I am part of the advisory group,” she said, without divulging details.
These eminent personalities would bring experience to ensure that fair-play and competition are upheld to eventually benefit the end consumer, Chawla said. CCI is still in the process of recruiting staff in various areas of expertise spanning law, public policy and financial markets.
It enjoys powers under a law enacted in 2009 to clamp down on companies for anti-competitive behaviour and abuse of market dominances by forming price cartels. CCI is examining a spate of anti-competitive complaints. Internet giant Google and real estate major DLF are under its lens.