Professional Documents
Culture Documents
The Monopolies AND Restrictive Trade Practices (MRTP) ACT, 1969
The Monopolies AND Restrictive Trade Practices (MRTP) ACT, 1969
By : Amit Kumar Giri PGDM Sec.A Roll No. 13 IIMT Professional College
This Act was enacted: To ensure that the operation of the economic system does not result in the concentration of economic power in the hands of few To provide for the control of monopolies To prohibit monopolistic and restrictive trade practices The MRTP Act extends to the whole of India except Jammu and Kashmir
This Act shall not apply to: Any undertaking owned or controlled by the Government Company Any undertaking owned or controlled by a corporation Any undertaking owned by a co-operative society formed and registered under any Central, Provincial or State Act Any financial institution
RELIEF AVAILABLE
The practice shall be discontinued or shall not be repeated The agreement relating thereto, shall be void
1. FALSE REPRESENTATION
Falsely suggests that the goods are of particular standard quality, grade and composition Falsely suggest any re-built good as new one Makes a misleading representation concerning for the need for, or the usefulness of, any goods or services Gives any warrantee or guarantee to the performance and efficacy of the goods that is not based on proper tests A promise to replace until it has achieved a specified result
RELIEF AVAILABLE
The practice shall be discontinued or shall not be repeated The agreement relating thereto, shall be void Any information relating to such unfair trade practice shall be disclosed