Business

Department of Justice and Federal Trade Commission Sign Memorandum with Two Indian Authorities

Department of Justice and Federal Trade Commission Sign Memorandum with Two Indian Authorities

Department of Justice and Federal Trade Commission Sign Memorandum with Two Indian Authorities

On September 27, 2012, the US Department of Justice and the Federal Trade Commission signed a memorandum of understanding with the Government of India Ministry of Corporate Affairs as well as the Competition Commission of India.  The antitrust memorandum encourages increased cooperation between competition agencies in each country. 

The first key part of the MOU addresses cooperation.  The provision states that U.S. antitrust agencies and Indian authorities will cooperate and inform each other about competition policies and changes to enforcement in specific jurisdictions.  If the United States and India are investigating a similar matter, the two countries have agreed to cooperate. 

The second key part of the MOU stresses communication.  The provision states that United States and India will keep each other updated about all competition enforcement and policies addressing enforcement.  The provisions also states that the United States and India will engage in meetings from time to time in order to discuss policy and enforcement information. 

Joseph Wayland, the Acting Assistant Attorney General, stated, “We value our relationship with the Indian Ministry of Corporate Affairs and the Competition Commission of India.  We know that this memorandum of understanding will enhance that relationship in the years ahead, as we work together to ensure that markets are open and competitive, by identifying and remedying anticompetitive behavior.” 

The memorandum was signed by Wayland, Chairman Jon Leibowitz under the FTC, Nirupama Rao, the Indian Ambassador to the United States for the Indian Ministry of Corporate Affairs, and CCI Chairman Ashok Chawla.

Chairman Leibowitz commented, “We are delighted to enter into this memorandum of understanding with the Indian Ministry of Corporate Affairs and the Competition Commission of India.  It will strengthen the already excellent relations among the U.S. and Indian competition authorities by further facilitating cooperation on policy and enforcement matters.”

Source: Department of Justice

Share

Related Articles

Business News

Google and IBM Discover Massive New Market Opportunity Mamadou Ndiaye grew up in the impoverished nation of Senegal.
Deep Fried: Burger King Twitter Hacked Deep Fried: Burger King Twitter Hacked Just two weeks after traces of horse meat were found in beef patties at a Burger King supply center in Europe, the fast-food chain’s Twitter was hacked.
Berkshire and 3G Capital Purchase Heinz for $23 Billion Berkshire and 3G Capital Purchase Heinz for $23 Billion Buffet, the CEO of Berkshire Hathaway, announced on Thursday that it plans to purchase the food giant for roughly $23 billion, adding Heinz Ketchup to the conglomerate’s stable of respected brands.
Martha Stewart Back in Court Again Martha Stewart Back in Court Again On Tuesday, the home decorating and banking icon appeared before the New York State Supreme court to defend her choice to sign a contract with J.
Young Adults are Too Broke for Loans Young Adults are Too Broke for Loans Young adults are facing less debt than they were 10 years ago, but that is not necessarily a good thing.
Lawsuit Alleges Budweiser Waters-down its Beer Lawsuit Alleges Budweiser Waters-down its Beer Beer drinkers across the United States have accused Anheuser-Busch of watering down its Michelob, Budweiser and other beer brands, in class-action suits that seek tens of millions in damages.
CNBC to Purchase “Nightly Business Report” CNBC to Purchase “Nightly Business Report” “Nightly Business Report,” the inventive public television series that has come into financial troubles in recent years, attracted a new deep-pocketed commercial owner, the 24-hour news and business cable channel CNBC, an element of Comcast’s NBC Universal.
Google Launches Touchscreen Chromebook Google Launches Touchscreen Chromebook Google on Thursday introduced a high-resolution Chrome OS portable computer equipped with a touchscreen.
Investigations Continue Into Plywood from China Investigations Continue Into Plywood from China On November 9, 2012, the International Trade Commission (USITC) announced that continuing investigations allege that hardwood plywood from China was subsidized and sold for less than fair value in the United States.
Department of Justice and Federal Trade Commission Sign Memorandum with Two Indian Authorities Department of Justice and Federal Trade Commission Sign Memorandum with Two Indian Authorities On September 27, 2012, the US Department of Justice and the Federal Trade Commission signed a memorandum of understanding with the Government of India Ministry of Corporate Affairs as well as the Competition Commission of India.
Another Taiwan Manufacturer Pleads Guilty to Price-Fixing Another Taiwan Manufacturer Pleads Guilty to Price-Fixing On September 25, 2012, the Department of Justice announced that the vice chairman of a Taiwan aftermarket auto lights manufacturer pled guilty to an international price-fixing conspiracy.
CME Group Software Engineer Guilty of Stealing Trade Secrets CME Group Software Engineer Guilty of Stealing Trade Secrets On September 19, 2012, the US Attorney’s Office in the Northern District of Illinois reported that Chunlai Yang pleaded guilty of two counts theft of trade secrets after working for CME Group for 11 years.
Economists Predict Meager Growth in 2011 Economists Predict Meager Growth in 2011 A number of businesses and financial analysts predict that the United States’ economy will grow only slightly in 2011, a bleaker forecast that was offered in July, when most entity’s called for a stronger improvement.
End of the Road for Steuben Crystal End of the Road for Steuben Crystal Steuben Glass, a name that once evoked images of prestige and sophistication, appears to be vanishing for good.

Guide To: Business Lawyers

Guide to Finding Business Lawyer Guide to Finding Business Lawyer How do I find a Business Lawyer?Business lawyers are essential for commercial enterprises to ensure that they remain knowledgeable of the laws regulating their business and protecting their assets from liability.
Guide to Finding Tax Lawyer Guide to Finding Tax Lawyer How do I find a Tax Lawyer?Tax lawyers specialize in helping clients who need guidance in navigating the complex tax codes of the United States and local state taxes.
Guide to Finding Bankruptcy Lawyer Guide to Finding Bankruptcy Lawyer Questions to ask, Fees, Preparing for appointment.