In addition, it should be noted that Article 2 (b) of the Act provides that “agreement” includes any agreement, agreement or act in consultation – (i) if such an agreement is an agreement, agreement or written act; or (ii) whether such an agreement, understanding or act is to be enforceable through judicial proceedings. So even the oral injunction can be anti-competitive. Agreements between parties that are not formalized or that, if not written, but not executed or registered, may also be considered anti-competitive if it is established that aAEC owns aAEC in India. However, as the case law under discussion shows, competition law has a significant impact on the way transactions and transactions are conducted in India. The fines imposed by the ICC are among the highest in the world. At a time when competition law regulators around the world are strengthening their implementation cooperation, India has already entered into competition cooperation agreements with the United States and Russian competition control authorities, and it appears that the government is considering additional agreements with other countries. This is particularly relevant for international companies operating in India and for those considering entering the Indian market. Facts – The informant in the case had criticized the opposing parties (OPs) for anti-competitive behaviour that the original spare parts of automobiles manufactured by certain POs had not been freely made available on the open market and that most OEMs (equipment manufacturers) and dealers had clauses in their agreements that dealers should only purchase spare parts from oems and their dealers. Anti-competitive agreements are agreements between competitors designed to prevent, restrict or distort competition. Section 34 of the Competition Act prohibits anti-competitive agreements, decisions and practices. While operating in India, parties are prohibited from entering into anti-competitive agreements. In general, agreements that have or are likely to have significant negative effects on competition (“AAEC”) are anti-competitive agreements. These chords can be horizontal or vertical.
However, the Competition Act 2002 (“Law”) recognizes intellectual property rights and, to facilitate their protection, allows reasonable restrictions imposed by their owners. Similarly, the law exempts agreements between exporters, as exports do not affect Indian markets. The Competition Commission of India (“ICC”) has been empowered to order any company or person to modify, terminate and not recontract an anti-competitive agreement and impose a penalty of up to 10% of the average turnover of the last three years. The “in itself” rule for horizontal agreements does not apply to vertical agreements. Therefore, a vertical agreement is not in itself anti-competitive or does not have a material negative effect on competition.