Record fine for late filing in India: Time to set the deadline for reform?
India’s competition authority (the CCI) imposed a record-breaking fine of US$750,000 (50 million rupees) on General Electric (GE) earlier this year for failing to notify its tie-up with Alstom S.A. within the deadline required by the country’s merger control rules. The CCI is increasingly active in enforcing its merger regime. Since GE’s case, the CCI…