Govt to set up expert body to select CCI members
Government will soon set up an expert group under the chairmanship of Chief Justice of India for selecting members of the Competition Commission of India, which is likely to be fully operational by middle of this year.
By PTI |
NEW DELHI: Government will soon set up an expert group under the chairmanship of Chief Justice of India for selecting members of the Competition Commission of India, which is likely to be fully operational by middle of this year.
"An expert group will be formed in the next one week that will look into the selection of members of the Commission. CCI should be operationalised in the next 4-5 months," Minister of Corporate Affairs Prem Chand Gupta told reporters on the sidelines of an Assocham seminar here today.
Besides the Chief Justice, the group would comprise Secretary in the Ministry of Corporate Affairs, Secretary in the Ministry of Law and Justice and two other experts.
Former Planning Commission Member and Rajya Sabha Member Nitish Sengupta has already been shortlisted as member of the group.
Gupta said competition regulator Monopolies and Restrictive Trade Practices Commission has been directed to clear cases pending before it within two years.
"The CCI Act has a two-year sunset clause for the MRTPC and it would stop taking new cases once CCI becomes operational," Gupta said.
The CCI Amendment bill was passed by Parliament last year after the Supreme Court raised objections to the original document.
On the new Companies Act, Gupta informed that all procedures including consultation process have been completed by the ministry.
"It took time to simplify the present Companies Act, 1965 as it is old and complicated. However, with all the procedures now complete, we would introduce the Act in the coming Budget session of Parliament," he said.
"An expert group will be formed in the next one week that will look into the selection of members of the Commission. CCI should be operationalised in the next 4-5 months," Minister of Corporate Affairs Prem Chand Gupta told reporters on the sidelines of an Assocham seminar here today.
Besides the Chief Justice, the group would comprise Secretary in the Ministry of Corporate Affairs, Secretary in the Ministry of Law and Justice and two other experts.
Former Planning Commission Member and Rajya Sabha Member Nitish Sengupta has already been shortlisted as member of the group.
Gupta said competition regulator Monopolies and Restrictive Trade Practices Commission has been directed to clear cases pending before it within two years.
"The CCI Act has a two-year sunset clause for the MRTPC and it would stop taking new cases once CCI becomes operational," Gupta said.
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The CCI Amendment bill was passed by Parliament last year after the Supreme Court raised objections to the original document.
On the new Companies Act, Gupta informed that all procedures including consultation process have been completed by the ministry.
"It took time to simplify the present Companies Act, 1965 as it is old and complicated. However, with all the procedures now complete, we would introduce the Act in the coming Budget session of Parliament," he said.
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