This topic gains significance because of the introduction of a new Competition Law Regime in India (with Amendments in 2008) which is at par with the standards laid down by WTO. Also the evolving business strategies of the present markets employ these anti competitive measures to cut down upon competition. Formation of Cartels and covert pricing maneuvers are perennial strategies employed by market holders since time immemorial. And surprisingly they haven''t lost their effectiveness till now. This work discusses the Legal framework laid down to curb such anti competitive practices in India in particular and the world in general.