Sangeeta Verma appointed as the acting chief of Competition Commission of India

Tags: Economy/Finance Person in news

The government of India has appointed Sangeeta Verma as the acting chairperson of the Competition Commission of India (CCI) on 25 October 2022.

Sangeeta Verma who was a member of the CCI will take charge on 26 October 2022 after the retirement of the full-time Chairperson Ashok Kumar Gupta on 25 October 2022.

According to the government order she will remain in office for “a period of three months or till appointment of regular Chairperson or till any further orders, whichever is the earliest”.

Ashok Kumar Gupta had taken over as the CCI chairperson in November 2018.

Competition Commission of India (CCI)

The Competition Commission of India (CCI) was established under the Competition Act, 2002 for the administration, implementation and enforcement of the Act. 

It was constituted in March 2009. 

The following are the objectives of the Commission.

• To prevent practices having adverse effects on competition.
• To promote and sustain competition in markets.
• To protect the interests of consumers and
• To ensure freedom of trade.

Members of the CCI 

It consists of 7 members; one Chairperson and six other members.

The members are appointed by the government for five years and are re -eligible for appointments.

However the members have to retire after attaining the age of sixty-five years.

First Chairperson of CCI: Dhanendra Kumar

Headquarters: New Delhi