In addition, it is important to note that section 2(b) of the Act provides that the “contract” includes any joint agreement or act – (i) whether such an agreement, agreement or act is formal or written or not; or (ii) whether or not such agreement, understanding or act is to be enforceable through legal process. Thus, an oral order can also be anti-competitive. Agreements between parties that have not been formalized or that have been executed or registered in writing may also be considered anti-competitive if it is established that they have AAEC in India. VERTICAL AGREEMENTS – Vertical agreements are agreements between two or more companies operating at different levels of production2. For example, between suppliers and distributors. Other examples of anti-competitive vertical agreements are as follows: the ICC found that, through exclusive agreements and agreements, Hyundai infringed the provisions of Section 3(4)(e) in conjunction with Section 3(1) of the Act through agreements that resulted in the fixing of the resale price. The ICC fined Hyundai INR 87 Crore and found that Hyundai`s anti-competitive conduct in the case included the introduction of agreements to maintain the resale price by monitoring the maximum level of discounts allowed by a rebate control mechanism and also a penalty mechanism for non-compliance with the rebate system. Article 19(1) of the Law provides that the ICC has committed any alleged infringement of Article 3(1) of the Law. 1 of the law, alone or after receiving information from a person, consumer, his association or trade association, against payment of fees and in the prescribed manner.
The ICC can also act when the central government, a land government or a legal authority notifies it. The ICC conducts the investigation only in cases of this and then orders the Director General to open an investigation into the case. In cases where CCI finds, as a result of an investigation, that the agreement is anti-competitive and that it has AAEC, it may take all or one of the following measures, with the exception of provisional measures that it may take pursuant to section 33 of the Act: HORIZONTAL AGREEMENTS – Horizontal agreements are agreements between undertakings at the same stage of production. . . .