What is 'anti-competitive agreement' under the Competition Act, 2002? Mention any three anti-competitive agreements under horizontal agreements.

Answer 4(c) Anti-Competitive Agreements are agreements between enterprises or association of enterprises in respect of production, supply, distribution, storage, acquisition or control of goods or provisions of services, which cause or are likely to cause an appreciable adverse effect on competition within India. Anti-Competitive agreements under horizontal agreements are as follows:- (i) Price Fixing [Section 3(3) (a)] Price fixing occurs when two or more firms agree to raise or fix the prices in order to increase their profits by reducing competition. It is an attempt at forming a collective monopoly. (ii) Limiting the Production or supply [Section 3(3)(b)] The object of these agreements or arrangements is to eliminate the competition by limiting the quantity. (iii) Allocation of Market Share [Section 3(3)(c)] It means agreement among enterprises that will have exclusive or preferential rights in a designated area for sale, production or provision of services or otherwise. (iv) Bid Rigging [Section 3(3)(d)] An agreement, between enterprises or persons engaged in identical or similar production or trading of goods or provision of services, which has the effect of eliminating or reducing competition for bids or adversely affecting or manipulating the process for bidding. Bid rigging is a particular form of collusive price-fixing behaviour by which firms coordinate their bids.