GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

DIRECTOR GENERAL UNDER COMPETITION ACT 2002 A STATUTORY AUTHORITY?

Corporate Laws / Banking / SEBI / LLP - By: - Mr.M. GOVINDARAJAN - Dated:- 25-7-2015 - The Competition Act, 2002 ( Act for short) provides that the Director General when so directed by the Commission, is to assist the Commission in investigation into any contravention of the provisions of the Act. The Director General is bound to comply with such a direction to render requisite assistance to the Commission. The Director General, in order to effectively discharge his functions, has been given th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

bject to the provisions of Section 123 and 124 of the Indian Evidence Act, 1872, requisitioning any public record or document or copy of such record or document from any office. Without prejudice to the above powers, the provisions of Section 240 and 240A of the Companies Act, 1956, so far as may be, shall apply to an investigation made by the Director General or by a person authorized by him, as they apply to an inspector under the Companies Act, 1956. This power includes search and seizure of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

authority. They are Section 2(w), Section 19(1) (b), Section 21 and Section 21A. Section 2(w) defines the term statutory authority . To come within the definition of the expression statutory authority the following shall be fulfilled: the authority should be a board, corporation, council, institute, university or any other body corporate; it should have been established by or under any State or Central or Provincial Act; it should have been so established for the purpose of regulating production .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

to take is or would be, contrary to any of the provisions of the Act, then such statutory authority may make a reference in respect of such issue to the Commission. Any statutory authority, may, suo motu, make such a reference to the Commission. On receipt of a reference the Commission shall given its opinion, within sixty days of receipt of such reference, to such statutory authority which shall consider the opinion of the Commission and thereby give its findings recording reasons therefore on .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

a reference to the statutory authority. On receipt of a reference the statutory authority shall give its opinion, within 60 days of receipt of such reference, to the Commission which shall consider the opinion of the statutory authority, and thereafter give its findings recording reasons therefor on the issues referred to in the said opinion. The High Court held that the statutory authorities referred to in Section 21 and 21A should be those other than the Authorities functioning under the Act. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version