Mrtp act-1969 by zelani lpu

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THE MONOPOLIES THE MONOPOLIES AND AND RESTRICTIVE TRADE RESTRICTIVE TRADE PRACTICES (MRTP) PRACTICES (MRTP) ACT, 1969 ACT, 1969 By : Syed Abdul Zelani By : Syed Abdul Zelani MBA Sec.Q1102 MBA Sec.Q1102 Roll No. 06 Roll No. 06 Lovely Professional University Lovely Professional University

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Transcript of Mrtp act-1969 by zelani lpu

  • 1. THE MONOPOLIES AND RESTRICTIVE TRADE PRACTICES (MRTP) ACT, 1969 By : Syed Abdul Zelani MBA Sec.Q1102 Roll No. 06 Lovely Professional University
  • 2.
    • This Act was enacted:
    • To ensure that the operation of the economic system does not result in the concentration of economic power in the hands of few
    • To provide for the control of monopolies
    • To prohibit monopolistic and restrictive trade practices
    • The MRTP Act extends to the whole of India except Jammu and Kashmir
  • 3. APPLICATION OF THE ACT
    • This Act shall not apply to:
    • Any undertaking owned or controlled by the Government Company
    • Any undertaking owned or controlled by a corporation
    • Any undertaking owned by a co-operative society formed and registered under any Central, Provincial or State Act
    • Any financial institution
  • 4. RESTRICTIVE TRADE PRACTICE
    • A restrictive trade practice is a trade practice which:
    • Prevents, distorts or restricts competition in any manner
    • Obstructs the flow of capital or resources into the stream of production
    • Tends to bring about manipulation of prices or conditions
  • 5. RELIEF AVAILABLE
    • The practice shall be discontinued or shall not be repeated
    • The agreement relating thereto, shall be void
  • 6. UNFAIR TRADE PRACTICE
    • A trade practice which, for the purpose of promoting any sale, use or supply of any goods or services, adopts unfair method. These are categorized as:
    • False Representation
    • False Price or Bargain Price
    • Free gifts offer and Prize Schemes
    • Non-compliance of Prescribed Standards
    • Hoarding, Destruction etc.
  • 7. 1. FALSE REPRESENTATION
    • Falsely suggests that the goods are of particular standard quality, grade and composition
    • Falsely suggest any re-built good as new one
    • Makes a misleading representation concerning for the need for, or the usefulness of, any goods or services
    • Gives any warrantee or guarantee to the performance and efficacy of the goods that is not based on proper tests
    • A promise to replace until it has achieved a specified result
  • 8. 2. FALSE OFFER OR BARGAIN PRICE
    • When an advertisement is published in newspaper, offering goods at a bargain price when in fact there is no such intention that the same may be offered at the same price for reasonable period
  • 9. 3. FREE GIFTS OFFER AND PRIZE SCHEMES
    • Offering any gifts along with some other goods when the intention is different
    • Creating an impression that something is offered free when in fact the price is included in the price of article sold
    • Offering some prizes to the buyers by the conduct of any contest with real intention to promise sales
  • 10. 4. NON-COMPLIANCE OF PRESCRIBED STANDARDS
    • Any sale or supply of goods, knowing or having reason to believe that the goods do not comply with the standards prescribed by some competent authority
  • 11. 5. HOARDING, DESTRUCTION ETC.
    • Any practice of that permits the hoarding or destruction of goods, with an intention to raise the cost of those or other similar goods
  • 12. RELIEF AVAILABLE
    • The practice shall be discontinued or shall not be repeated
    • The agreement relating thereto, shall be void
    • Any information relating to such unfair trade practice shall be disclosed
  • 13. REMEDIES UNDER THE ACT
    • Temporary Injunction
    • Compensation
  • 14. THANK YOU