Why was the Competition Act of 2002 established?

<p><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rf:" data-state="closed">It has been said that the concept of the <strong>Competition Act of 2002</strong> is to enhance the competition to guard consumers against anti-competitive behaviors. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rg:" data-state="closed">The act was passed to solve the problem posed by the earlier enacted <strong>Monopolies and Restrictive Trade Practices Act of 1969 </strong>which was considered archaic and k&eacute;m&eacute;.</span><br><br><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rh:" data-state="closed">Also, the act is enforced by the <strong>Competition Commission of India (CCI)</strong>, which is a quasi-judicial body having the jurisdiction of investigating and determining anti-competitive practices. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:ri:" data-state="closed">It also has the authority to punish businesses for violation of the act in the manner of fining them, making them divest, and undertaking structural actions.</span></p>

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