Guest contributor R.V. Anuradha points to a news report indicating that the long-awaited Competition Commission of India (CII) would be functional on April 1, 2009. This will replace the existing Monopolies and Restrictive Trade Practices Commission (MRTPC) signifying an important step in Indian competition law. As the news report states, that day will also mark another milestone, which is the commencement of registration of limited liability partnerships (LLPs) in India.
Its still not very clear what they mean by functional. While recruitment of members and staff for the Commission has commenced, it may still be while before the remainder of the Competition Act is notified. Even the regulations still appear to be in the draft stages.