Mrtp act-1969 by zelani lpu


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Mrtp act-1969 by zelani lpu

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