GOVT. CONTROL ON BUSINESS
In India a number of
laws affecting business have become operational over the years. The important
ones affecting marketing are listed below:
1) The Indian Contract
Act, 1872
2) The Indian Sale of
Goods Act, 1930
3) The Industries
(Development and Regulation) Act, 1951
4) The Prevention of
Food Adulteration Act, 1954
5) The Drugs and Magic
Remedies (Objectionable Advertisements) Act, 1954
6) The Essential
Commodities Act, 1955
7) The Companies Act,
1956
8) The Trade and
Merchandise Marks Act, 1958
9) The Monopolies and
Restrictive Trade Practices Act,. 1969 (MRTP Act)
10) The Patents Act,
1970
11) The Standards of
Weights and Measures Act, 1976
12) The Consumer
Protection Act, 1986.
Some of the
legislations mentioned above apply to every undertaking, irrespective of the
nature of the product sold or the service provided by it like the Contract
Act, the Sale of Goods Act, the Companies Act, the Trade and Merchandise Marks
Act and the Standards of Weights and Measures Act, The MRTP Act,
however, does not apply to public undertakings, government-managed private
undertakings, financial institutions and co-operative societies.
