Consider the following statements regarding Competition Commission of India (CCI). 1. It is a constitutional body. 2. It has objective of eliminating practices having an adverse effect on competition. Identify the correct statements.

Only 1
Only 2
Both 1 and 2
None of the above

The correct answer is C. Both 1 and 2.

The Competition Commission of India (CCI) is a statutory body established under the Competition Act, 2002. It is an independent body with the objective of promoting and protecting competition in the markets of India. The CCI has the power to investigate and penalize anti-competitive practices, such as cartels, abuse of dominant position, and mergers and acquisitions that have an adverse effect on competition.

The CCI is not a constitutional body. It is a statutory body, which means that it was created by an act of Parliament. Constitutional bodies, on the other hand, are created by the Constitution of India. Examples of constitutional bodies include the President of India, the Vice President of India, the Prime Minister of India, and the Supreme Court of India.

The CCI has the objective of eliminating practices having an adverse effect on competition. This means that the CCI is responsible for ensuring that

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markets are competitive and that businesses do not engage in anti-competitive practices. The CCI can investigate and penalize anti-competitive practices, such as cartels, abuse of dominant position, and mergers and acquisitions that have an adverse effect on competition.
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