Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Companies / News/  Hearing of Flipkart, Amazon case resumes

Karnataka high court on Monday said it will begin daily hearing of the case between the Competition Commission of India (CCI) and India’s two biggest online retailers Flipkart and Amazon on Wednesday, two people aware of the development said.

CCI had approached the high court in December to vacate a stay issued by the court in February 2020 on a probe into alleged anti-competitive practices, predatory pricing, preferential treatment of sellers, and exclusive arrangements for launch of mobile phones among other serious charges against Walmart-owned Flipkart and American online retail giant Amazon.

“The judge said that he will take up the matter on a day-to-day basis and will give time to all advocates on record to argue," said an advocate, requesting not to be named.

“The court will make a final decision on if the order passed by CCI for a probe against Flipkart and Amazon (in January 2020) can be sustained," said a second advocate, requesting anonymity.

CCI had initiated a probe after a complaint by the Delhi Vyapar Mahasangh (DVM), a group representing small- and medium-sized businesses, on alleged business malpractices by Amazon and Flipkart.

Flipkart and Amazon have the biggest share of India’s booming e-commerce market, which is expected to reach $99 billion by 2024, according to a Goldman Sachs review of the sector globally.

Amazon and Flipkart earned a temporary reprieve after the high court passed an interim order staying the probe in February last year.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 18 Jan 2021, 10:42 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App