What do you know about MRP?

How is it fixed? What are the permissible exceptions to selling at MRP? What do I do if someone sells a product at a price that is higher than MRP? Please make your answer as comprehensive as possible, Thank you all.
Update: I want to know the permissible exceptions to selling at a price higher than MRP, in other words, what are the places where you can legally sell a product at a price higher than MRP?
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