Smartphone with Amazon logo is seen in front of displayed Flipkart logo and Indian flag in this illustration.
Credit: Reuters Photo
By Tim Smith
The Competition Commission of India asked Amazon Seller Services and Flipkart Internet to share financial statements to determine a potential penalty in an ongoing antitrust case, Mint reported, citing two people aware of the development.
The penalty in the case, which has been running for four years, will depend on the outcome of the regulatory hearing. The CCI can impose a charge of as much as 10 per cent of global turnover.
This is likely to include revenue earned by the entity in India and abroad but not from any fellow enterprise doing business in another market. The investigation into the e-commerce platforms stemmed from a trade association complaint.
“We do not have any comments on the leaked findings of DG’s investigation,” a spokesperson for Amazon said in response to Mint’s emailed query. Emails sent by the newspaper on Sept. 18 to the CCI and Flipkart seeking comments remained unanswered at the time of publishing.