CCI slaps penalty on Carlyle arm

CCI has imposed a penalty of ₹4 lakh on Carlyle for failing to disclose info related an acquisition

- MANU KAUSHIK

THE COMPETITION COMMISSION of India (CCI) has imposed a penalty of ₹4 lakh on Carlyle Group's investment vehicle, CA Plume Investments, and Bequest for failing to disclose key information related to their acquisition of Quest Global Services.

In its order, the CCI stated that the acquirers had admitted to an "inadvertent error" in identifying overlaps between their businesses and that of the target company. "It is evident that the combination did not meet the criteria of Green Channel prescribed under Schedule III of the Combination Regulation," the order said.