Ultratech Cements: Understanding Trends in the Economics of Market Power

[Lianne Lucia D’Souza is a 4thyear B.A. LL.B. student at School of Law, Christ (Deemed to be University, Bengaluru] Introduction Since the enforcement of merger control provisions in the Competition Act, 2002, the Competition Commission of India (“CCI”) has played an active role by assessing over 500 combinations in a short span of seven years. All transactions meeting the jurisdictional threshold prescribed under Section 5 of the Competition Act, 2002 are brought to the notice of the CCI, following which it grants or withholds its approval on whether the impugned combination causes or is likely to cause an Adverse Appreciable Effect on Competition (“AAEC”) under Section 6. In doing so the CCI acts as an ex ante regulator preventing unilateral increase in market power that significantly impedes effective competition. However, this ex ante control has not prevented enterprises from meticulously acquiring market power sufficient enough to alter…

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