In the year 2002, the Competition Act was enacted replacing

The correct answer is C. MRTP Act.

The Competition Act, 2002 is an Act of the Parliament of India enacted to provide for the establishment of a Commission to promote and protect competition in the markets, to prohibit practices having an adverse effect on competition, to regulate anti-competitive agreements and abuse of dominant position, and for matters connected therewith or incidental thereto.

The MRTP Act, 1969 was the previous law governing competition in India. It was enacted to prevent the concentration of economic power in the hands of a few and to promote competition in the markets. However, the MRTP Act was found to be inadequate to deal with the challenges of the modern

The Competition Act, 2002 is a landmark legislation that has had a significant impact on the Indian economy. It has helped to promote competition in the markets, which has led to lower prices and better quality goods and services for consumers. The Act has also helped to protect consumers from anti-competitive practices.

The Competition Act, 2002 is administered by the Competition Commission of India (CCI). The CCI is an independent body that is responsible for enforcing the Act. The CCI has the power to investigate complaints of anti-competitive practices, to order the dissolution of companies that have abused their dominant position, and to impose fines on companies that have violated the Act.

The Competition Act, 2002 is a powerful tool for promoting and protecting competition in India. It has helped to make the Indian economy more competitive and has benefited consumers by leading to lower prices and better quality goods and services.

The other options are incorrect because:

• The Contract Act is a law that governs the formation and enforcement of contracts.
• The Trademark Act is a law that governs the registration and protection of trademarks.
• The Copyright Act is a law that governs the creation and protection of copyrights.