The Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) marked a watershed moment in India’s economic and regulatory history. Enacted in response to the growing concentration of economic power and monopolistic tendencies in the post-independence Indian economy, the MRTP Act sought to prevent monopolies, regulate restrictive and unfair trade practices, and safeguard consumer interests in furtherance of the constitutional mandate under Article 39(b) and (c). This research paper undertakes a comprehensive doctrinal analysis of the MRTP Act, 1969, examining its legislative intent, structural framework, institutional mechanisms, implementation challenges, and eventual repeal upon the enactment of the Competition Act, 2002. Through a critical study of statutory provisions, landmark judicial pronouncements, and the recommendations of the Raghavan Committee (2000), the paper assesses the operational efficacy of the MRTP regime. The analysis highlights how judicial interpretation expanded the scope of restrictive and unfair trade practices, yet the Commission’s limited enforcement powers and absence of deterrent penalties significantly constrained effective regulation. It is argued that these structural and functional limitations, particularly in the context of post-1991 economic liberalization, necessitated the transition to a modern, effects-based competition law framework aligned with international best practices.