The Competition Commission of India’s anti-trust case against Amazon and Flipkart has enter its final stage, with the regulator asking the two e-commerce giants for financial statements to determine the penalty, Mint reported on September 23.
According to the report, the annual revenue details will help determine the penalties in the four-year-old case after hearing the defence of the two firms.
The regulator can levy a fine of up to 10 percent on the global turnover of a company or its income in the last three financial years for anti-competitive practices under a 2023 amendment to the competition law.
Moneycontrol could not independently verify the report.
The business publication earlier reported that the anti-trust regulator was likely to penalise Amazon for alleged anti-competitive behaviour.
CCI’s investigation arm confirmed the charges against Amazon Seller Services Pvt Ltd, the report cited sources as saying, adding a notice would be issued soon.
The US-based company has been facing increased scrutiny in India. In August, commerce minister Piyush Goyal wondered if the exponential growth of e-commerce firms in the country was a “matter of concern” or something was to be proud of.
Quick commerce companies, too, are under the government scanner. On September 20, CNBC-TV18 reported that trade promotion body DPIIT forwarded a complaint it received from a retail industry body against quick commerce companies to CCI, adding the commission could choose to take suo motu notice of the matter.
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