Government Is Bound To Ensure Fair Competition: Chief Justice Of India JS Khehar

The government is bound to ensure fundamental principle of fair competition is followed and its benefits are extended to all, Chief Justice of India JS Khehar said on Saturday.

The Chief Justice of India, who was delivering fifth Competition Commission of India (CCI) Annual Day lecture, said the colonial British rule "wiped out" fair trade competition and the state of Indian textile industry then was an example of unfair practice.

"Every government is bound to ensure full fundamental principles of competition. The extension of its benefits to all as per constitutional principle. It is the duty of the governing political party.

"This has to be done without infringing basic fundamental and constitutional benefits," Justice Khehar said.

Referring to various Supreme Court judgements in cases like SEBI-Sahara, BCCI, Unitech and TN Godavarman which dealt with investors' money, functions of cricket body, home buyers' rights and illegal mining respectively he said, "they show that constitutional remedies are available".

Speaking about the evolution of law on fair competition and monopoly in trade practice in the country, Justice Khehar said, the 2002 Competition Act gives wider power to the CCI to ensure fair trade competition and freedom of trade.

Referring to the provisions governing the CCI, the Chief Justice said that it has "extra-territorial jurisdiction" and can be termed as "global watchdog of international transactions" as it has wide power to regulate such deals if they violate the law.

He then dealt with significant judgement of the Supreme Court in a case that held that "prima facie" view of the CCI cannot be challenged in appellate courts.