Amazon, Flipkart to be punished? CCI seeks financial statements from e-commerce giants: Report

By Tim Smith

The Competition Commission of India has asked Amazon Seller Services and Flipkart Internet to provide financial statements to determine potential penalties in the ongoing antitrust proceedings, Mint reported, citing two people with knowledge of the event.

The penalty in the case, which has been going on for four years, will depend on the outcome of a regulatory hearing. The CCI could impose a fee of up to 10 percent of global turnover.

This is likely to include revenue earned by the entity in India and abroad, but not from any other company doing business in another market. The investigation into e-commerce platforms stemmed from a complaint by a trade association.

“We have no comment on the disclosed findings of the DG investigation,” an Amazon spokesperson said in response to an emailed query from Mint. Emails sent by the newspaper on September 18 to the CCI and Flipkart seeking comments remained unanswered at the time of publication.