MRTP Act

In 1969 the Indira Gandhi government was able to get the Monopolies and Restrictive Trade Practices (MRTP) Act passed after abolishing the managing agency system; the latter, it was thought, enabled a small number of capitalists to control a large number of industrial enterprises even though they had little or no financial stake in them. The MRTP Commissioner was to check the concentration of economic power wielded by a few leading business families.