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MRTP ACT 1969

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To ensure that the operation of the economic system does not result in the concentration of economic power in hands of few.,

To provide for the control of monopolies.,

To prohibit monopolistic and restrictive trade practices.

INTRODUCTION

The Monopolistic and Restrictive Trade Practices Act, 1969, was enacted

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Misleading advertisement and False Representation

Falsely representing that goods and services are of a particular standard, quality, grade, composition or style.

Falsely representing any second hand renovated or old goods as new.

Representing that goods or services, seller or supplier have a sponsorship, approval or affiliation which they do not have.

Unfair Trade Practice

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Making a false or misleading representation concerning need for, or usefulness of goods or services.

Giving to public any warranty, guarantee of performance that is not based on an adequate test or making to public a representation which purports to be such a guarantee or warranty.

Giving false or misleading facts disparaging the goods, services or trade of another person or concern.

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  To maximize profits and market power, traders often attempt to indulge in certain trade practices which tend to obstruct the flow of capital into the stream of production. It may also bring manipulation of prices or conditions of delivery or affect the flow of supplies in the market so as to impose unjustified costs.

Restrictive Trade Practice:

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The commission shall if after making an inquiry it is of the opinion that the practice is prejudicial to the pubic interest, or to the interest of any consumer it may direct that–

The practice shall be discontinued or shall not be repeated;

The agreement relating thereto shall be void in respect of such restrictive trade practice or shall stand modified.

The Commission may permit the party to any restrictive trade practice to take steps so that it is no longer prejudicial to the public interest

RELIEF AVAILABLE

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