Financial Daily from THE HINDU group of publications Tuesday, Jul 20, 2004 |
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Corporate
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Company Law Govt mulls making statutory changes in Competition Act Our Bureau
New Delhi , July 19 THE Union Government on Monday informed the Supreme Court that it was considering making statutory changes in the controversial Competition Commission Act, which originally contemplated a bureaucrat instead of a retired judge to head the Competition Commission of India (CCI). Mr Milon Banerjee, Attorney General, informed the Supreme Court that statutory changes would be made keeping in view the apex court's observations made during the hearings on a petition challenging the legality of the Act. The Court has allowed six-weeks' time as requested by the Centre to take appropriate steps. It has also appreciated the present stand of the Government and observed that this would address the grievances of the petitioner. This among the legal circles is being regarded as a definite move by the present Government to amend all the contentious issues in the Act. In fact, some call it a positive move as till now no such commitment has been made by the previous Government. At an earlier hearing, the then Attorney General, Mr Soli J. Sorabjee, had submitted before the Supreme Court that he would recommend to the NDA Government to amend the Competition Act so that High Courts do not execute the awards given by the CCI. The Act in its current form (Section 39) prescribes execution of the awards given by the Commission by High Courts or Principal Civil Court. According to the Section, "Every order passed by the Commission under this Act shall be enforced by the Commission in the same manner as if it were a decree or order made by a High Court or the Principal Civil Court in a suit pending therein and it shall be lawful for the Commission to send, in the event of its inability to execute it, such order to the High Court or the Principal Civil Court as the case may be, within local limits of whose jurisdiction..." Mr Sorabjee had submitted before the apex court that the Government would appropriately amend Section 39 of the Competition Act under which respective High Courts were made the executing courts for the awards given by the Commission.
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