What is meant by 'Predatory Price' under the Competition Act, 2002 ?

The term 'Predatory price' has been defined under the Competition Act, 2002 as the sale of goods or provision of services, at a price which is below the cost, as may be determined by regulations, of production of goods or provision of services, with a view to reduce the competition or eliminate the competitors. Thus, the two conditions precedent to bring a case with the ambit of predatory pricing are: Selling goods or provision of services at a price which is below its cost of production and That practice is resorted to eliminate the competition or to reduce competition.