Antitrust Case: CCI Seeks Financial Statements From Flipkart & Amazon To Decide Penalty

Antitrust Case: CCI Seeks Financial Statements From Flipkart & Amazon To Decide Penalty

SUMMARY

India’s antitrust watchdog has asked Flipkart and Amazon to share their annual turnover details, with the amount of fine set to be determined after the CCI’s hearing of the two companies

Flipkart and Amazon are facing a penalty of up to 10% of their global annual turnover or income

This comes just days after an Indian antitrust investigation found Amazon and Flipkart guilty of violating the country’s competition laws by giving preference to select sellers on their shopping websites

In the latest setback to ecommerce giants Flipkart and Amazon in a country where they continue to face criticism for their business practices, the Competition Commission of India (CCI) has sought turnover details from the duo to determine the penalty.

India’s antitrust watchdog has asked Flipkart and Amazon to share their financial statements, with the amount of fine set to be determined after the CCI’s hearing of the two companies in the four-year long case, Mint reported, citing sources.

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