The post 1991 Indian economy has chartered the course of liberalisation which has provided for a larger role for the private players. However, the government did not lose the sight of the fact that in order to protect the rights of the citizens the reins over the economic functions of the said private players cannot be set loose. It was found necessary that the practices of the business houses be controlled to ensure an environment of fair competition. This paper is an attempt to understand the journey of the Indian legislative process regarding the regulation of the market practices.