Context:

The Competition Commission of India (CCI) approved the merger of Vistara with Air India as well as allowed Singapore Airlines to acquire 25.1% stake in the erstwhile national carrier.

About Competition Commission of India (CCI):

• It is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002, it was duly constituted in March 2009.
• Nodal Ministry: Ministry of Corporate Affairs
• Composition: The Commission consists of a Chairperson and not more than 6 Members appointed by the Central Government.
• Eligibility: According the Competition Act, 2002, the Chairperson and every other member shall be: 
  • A person of ability, integrity and standing; 
  • Who has been, or is qualified to be, a judge of a High Court, or 
  • Who has special knowledge of, and professional experience of not less than 15 years in international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs, administration or in any other matter which, in the opinion of the Central Government, may be useful to the Commission.
• It acts as a quasi-judicial body which gives opinions to statutory authorities and also deals with other cases.

• Role of CCI: 
  • To eliminate practices having adverse effects on competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
  • To give opinion on competition issues on a reference received from a statutory authority.
  • To undertake competition advocacy, create public awareness and impart training on competition issues.

News Source: The Hindu