<Tr> <Td_colspan="2"> Status: In force </Td> </Tr> <P> The Competition Act, 2002 was enacted by the Parliament of India and governs Indian competition law . It replaced the archaic The Monopolies and Restrictive Trade Practices Act, 1969 . Under this legislation, the Competition Commission of India was established to prevent the activities that have an adverse effect on competition in India . This act extends to whole of India except the State of Jammu and Kashmir . </P> <P> It is a tool to implement and enforce competition policy and to prevent and punish anti-competitive business practices by firms and unnecessary Government interference in the market . Competition laws is equally applicable on written as well as oral agreement, arrangements between the enterprises or persons . </P> <P> The Competition Act, 2002 was amended by the Competition (Amendment) Act, 2007 and again by the Competition (Amendment) Act, 2009 . </P>

What are the objectives of competition act 2002