In a surprise move, acting chairman of the Competition Commission of India (CCI) Vinod Dhall resigned four months before the completion of his tenure.
?Since I finished most of the work, I am seeking an early exit. However, I will continue in office for another week or two to finish some remaining work,? Dhall told FE.
He said most of the work on the regulations and other issues were over. The new team at the Commission could take over from here, he said. The Competition Commission Act provides for a five-year term for the chairman or till the age of 65, whichever is earlier. Dhall would have completed his five-year term by mid-October.
The Commission is the country?s flagship body against anti-competitive behaviour by companies including forming cartels, manipulating prices and abusing a dominant position. While the Competition Commission Act was passed by Parliament, the rules to operationalise it are still in limbo.
Industry has often petitioned the government to keep the present condition going for some more time to allow them to develop the economies of scale.
Dhall said an extension would run only till next February, as he would be 65 by then, adding that there was no point in continuing for just a few more months. Dhall also said that he has no plans to join any new organisation as of now. He also denied that there were any differences with the minister of corporate affairs Premchand Gupta.
Dhall, who was a secretary in the then Ministry of Company Affairs, had joined the Commission as Officer on Special Duty in July 2003 and later became its member-administration.
Sources said his resignation would be forwarded to the Appointments Committee of Cabinet for necessary action.
The Commission, which was doing an advocacy role, under Dhall held meetings of several industry bodies as part of its awareness campaign regarding the provisions of the Act. Dhall had also convened talks with industries that were suspected to be involved in cartelisation and anti-competitive practices.
Among the sectors that he held discussions were cement, pharma, shipping, steel, airlines, sugar and tyre.
He had urged them to comply with the Competition Act 2002. During his tenure, the Commission also prepared draft regulations, which will be placed in the public domain by mid July, merger notification forms and procedures, awareness and training activities along with National Competition Policy.
Besides, the Commission also took various research projects and technical cooperation projects of World Bank, USAID, FIAS-DFID for capacity building of Commission. It was also awaiting the appointment of a chairman and five members to enable it to be functional and the ministry of corporate affairs has already sought applications from the candidates. When it comes into operation, the Commission will replace the existing Monopolies and Restrictive Trade Practices Commission.