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Tag: CCI

  • Temasek Holdings Receives Approval from the CCI to Purchase Share in Rebel Foods

    The proposed purchase of a share in the foodtech startup Rebel Foods by Singapore’s Temasek Holdings was approved by the Competition Commission of India (CCI) on November 26. Rebel Foods, the company behind Faasos, Behrouz Biryani, Oven Story, and other cloud kitchens, is being acquired by Temasek Holdings through its subsidiary Jongsong Investments Pte.

     According to a release from the regulator, the proposed combination calls for Jongsong Investments Pte Ltd to purchase equity shares of Rebel Foods Private Ltd (Rebel Foods) and subscribe for certain compulsorily convertible preference shares.

    Rebel Foods Hitting the IPO

    Rebel Foods is considering going public in the upcoming 12 to 18 months. Prior to that, it is reported that early investors, such as Coatue Management, Lightbox, and Peak XV Partners, are seeking partial exits. It is anticipated that Jongsong Investments will purchase their combined 20–25% shareholding for between $180 and $200 million. Temasek will become Rebel Foods’ biggest stakeholder after the deal.

    At the moment, the Qatar Investment Authority owns roughly 10% of the firm, while the founders share 12%. Behrouz Biryani, Ovenstory Pizza, The Good Bowl, SLAY Coffee, and Wendy’s are just a few of the quick-service restaurant (QSR) brands that Rebel Foods, which was founded in 2011 by Kallol Banerjee and Jaydeep Barman. Selling food products through its own cloud kitchens and third-party kitchens is the startup’s main source of income. Through agreements, it also generates revenue from royalties and delivery fees.

    Financial Report Card of Rebel Foods

    Thanks to a rise in its top line and cost discipline, Rebel Foods was able to reduce its net loss from INR 656.5 Cr in the previous fiscal year to INR 378.2 Cr in the fiscal year 2023–24 (FY24), a 42% decrease. From INR 1,195.2 Cr in FY23 to INR 1,420.2 Cr in FY24, operating revenue increased by 19%. The development occurs as early investors are trying to sell some shares in order to squeeze out profits, while a number of late-stage Indian businesses are seeing secondary share sales before their scheduled IPOs. Acko, Urban Company, and Lenskart are among the startups that have experienced secondary transactions, which have resulted in partial exits and multi-bagger returns for certain early investors.

    With more than 450 kitchens spread across 70 cities, Rebel Foods is the biggest online restaurant operator in the world. At the moment, Rebel Foods has more than 45 brands across several nations.

    In addition, Rebel Foods has been opening physical locations in an effort to reach a wider audience and generate more income. Among its rivals are Tiger Global-funded Eatclub and Curefoods, which is supported by Binny Bansal.

    CCI Approves Alphabet’s Stake Purchase in Walmart’s Flipkart
    CCI authorizes Alphabet’s stake purchase in Flipkart, a Walmart subsidiary, marking a significant investment in India’s e-commerce sector.
    StartupTalkyNitin Konde

  • CCI Authorises Alphabet’s Purchase of Stake in Flipkart, a Walmart subsidiary

    The purchase of a portion of Flipkart, a Walmart group company, by Alphabet affiliate Shoreline International Holdings LLC has been authorised by the Competition Commission of India (CCI). A wholly owned subsidiary of Alphabet Inc., the parent company of Google, Shoreline International will purchase shares in Flipkart.

     According to the CCI, the deal entails an investment in Flipkart Pvt Ltd as well as a contract for particular service provisions between an Alphabet affiliate and Flipkart’s subsidiary. The primary activities of Flipkart, a prominent e-commerce platform, are marketplace-based e-commerce services and wholesale trading. The CCI revealed in a post on X that the Commission had authorised the subscribing of Flipkart Pvt Ltd shares by Shoreline, a subsidiary of Alphabet Inc.

    Flipkart’s Recent Funding

    Google joined Walmart in contributing $350 million as a minority investor in Flipkart’s extended investment round in May. With this investment, the domestic marketplace’s valuation increased to $36 billion, bringing its total capital to $950 million. Google’s financing was meant to help Flipkart expand into new financial and fast commerce enterprises as well as into established major categories like Cleartrip and Shopsy.

    According to Flipkart’s official announcement, Google’s proposed investment and its cloud collaboration will help the company grow and modernise its digital infrastructure so it can serve customers nationwide.  Walmart, the company that controls 85% of Flipkart, strengthened Flipkart’s standing in the market by contributing $600 million to the fundraising effort.

    Streamlining Regulations

    The CCI pointed out that Alphabet’s stake is an “extremely small and non-controlling acquisition of shareholding” and affirmed that Flipkart and Alphabet will continue to function separately.  As stated in its order, the competition watchdog stressed that the focus of its investigation was possible impacts on the cloud services market in India.

    However, CCI stated in the order that if the Hon’ble Commission were to evaluate the impacts on competition, it should only consider the markets that are directly impacted by the proposed merger, specifically the Indian cloud services market.

    Flipkart’s Dominance in the Indian Market

    With the $36 billion investment, Flipkart is the market leader in India’s e-commerce sector, catering to hundreds of millions of customers in smaller cities and villages. According to Bernstein, Flipkart, which also owns the fashion e-commerce company Myntra, controls roughly 48% of the Indian e-commerce market.

    Amazon, Meesho, which is supported by SoftBank, Reliance Retail, and an expanding number of quick-commerce applications, are competitors of Flipkart. The largest retail chain in India is operated by Reliance Retail, which is rapidly trying to develop an e-commerce strategy. It is owned by Mukesh Ambani, the richest man in Asia. Last year, QIA, ADIA, and KKR invested close to $2 billion in Reliance Retail, which was valued at $100 billion. According to Bernstein, India’s e-commerce market is expected to reach a value of $133 billion by the following year.

    Amazon Launches Tez Delivery for Rapid Commerce Solutions
    Amazon launches Tez Delivery, a rapid commerce solution aimed at providing faster and more efficient delivery services for customers.
    StartupTalkyNitin Konde

  • Apple’s Request to Halt the Antitrust Investigation was Denied by CCI

    Apple’s request to stop the investigation of a report that claimed the tech giant had broken Indian competition laws was denied by the Competition Commission of India (CCI). According to a media report, this permits the lawsuit, which has been being investigated since 2021, to proceed.

    The investigation focusses on claims that Apple hurt app developers, consumers, and alternative payment processors by abusing its market dominance in the iOS app store. Apple has refuted the accusations, claiming that its market share is negligible in India, where Google’s Android dominates with 96.5% of the smartphone market.

    How it all Started?

    A previous disagreement over how to handle probe reports was linked to Apple’s most recent request. The CCI recalled its original reports, issued amended versions, and ordered the destruction of the old copies after the corporation claimed in August that the CCI had contained sensitive commercial information in those reports. Apple asserted, however, that the case’s first complaint, Together We Fight Society (TWFS), did not follow this instruction. The business asked that the updated reports be withheld and filed a regulatory action against TWFS. This request was denied by the CCI, which declared it “untenable.”

    The CCI has requested that Apple provide its audited financial accounts for the last three fiscal years as the case moves forward. If the corporation is found to have violated competition laws, these records will assist the regulator in determining possible fines. After reviewing the updated inquiry report, senior CCI authorities are anticipated to render a final decision.

    Apple’s App Store Policies Face Strong Criticism

    The increased scrutiny of large tech companies in India and around the world coincides with Apple’s difficulties with the CCI. Apple’s App Store policies have drawn criticism from developers, especially the demand that developers use its in-app payment mechanism and pay a percentage of sales. The CCI’s inquiry and subsequent decision may have a big impact on Apple’s business operations in India, even if the company insists it doesn’t have enough market dominance there to hurt competition.

    Apple Expanding its Footprints in India

    To assist with the research, creation, and testing of new products, Apple has established a wholly owned company in India called Apple Operations India. In its regulatory filing, the company specified the following proposed activities: hiring engineers for hardware development, leasing facilities, purchasing engineering equipment, and offering failure analysis services to group companies. In a letter of consolation, Apple promised to continue to provide “operational and financial support” for the “foreseeable future.” The Macintosh PC manufacturer is establishing a direct subsidiary of the US parent company in India for the first time.

    With fixed assets of INR 36.8 crore and capital work-in-progress of INR 38.2 crore, the company’s operations in India are making major strides. Through the provision of hardware, software, and other services, the new business will assist independent contractors and manufacturers.

    Top international electronics companies like Samsung, LG, and Sony currently have research and development (R&D) facilities in India; however, these are primarily restricted to software development for international launches and hardware localisation of products. Vivo and Oppo, two Chinese phone manufacturers, operate similarly. To ensure tech and back office services and to carry out research and development, numerous multinational corporations from the United States and Europe have established global capability centres (GCCs) in India.

    Tata Electronics Acquires 60% Stake in Tamil Nadu iPhone Plant
    Tata Electronics is set to acquire a 60% stake in the iPhone manufacturing plant in Tamil Nadu, marking a significant step in India’s electronics sector.
    StartupTalkyNitin Konde

  • Due to the WhatsApp policy, CCI Fines Meta

    The Competition Commission of India hit WhatsApp and its parent company Meta with an INR 213.14 crore (roughly USD 25.3 million) fine on 17 November for violating the Competition Act and abusing its dominant position through the 2021 update to WhatsApp’s privacy policy. WhatsApp has been directed by the CCI to refrain from sharing user data for advertising reasons with other Meta firms (like Facebook and Instagram) for a period of five years.

    Additionally, the CCI has prohibited WhatsApp from requiring user data sharing with Meta firms in order to utilise its services in India. WhatsApp’s policy must outline the kind of data that is provided and the reasons behind them when it comes to Meta companies and goods for purposes other than advertising. Users of WhatsApp must be given the option to opt out of data sharing and change their preferences in-app if their data is shared for purposes other than delivering WhatsApp services. All users, including those who approved the 2021 upgrade, must have access to this option.

    Online Network of WhatsApp and Meta Companies

    The CCI claimed in a press release that WhatsApp‘s 2021 policy change, which eliminated the previous opt-out option and required users to agree to the new terms, including data sharing with Meta, was an “unfair condition” under the Competition Act.

    According to the report, all users were forced to “accept expanded data collection terms and sharing of data within Meta Group without any opt-out” as a result of the update. It claimed that the policy update compelled users to comply, weakened their autonomy, and indicated that Meta had exploited its dominating position due to the network effect and a lack of viable alternatives.

    Creating Entry Barriers to Rival Firms

    The CCI further claimed that by exchanging WhatsApp user data amongst Meta businesses for objectives other than delivering WhatsApp services, Meta’s competitors were prevented from entering the market and were denied access to the display ad market. WhatsApp’s 2021 privacy policy modification has drawn criticism worldwide for violating users’ privacy and raising antitrust issues. In August 2024, a Brazilian judge banned WhatsApp from exchanging data with Facebook and Instagram within the nation. According to a Meta representative, they intend to challenge the CCI’s ruling.

    The company intends to appeal the CCI’s ruling because it disagrees with it. As a reminder, the 2021 upgrade was available to users at the time and did not alter the privacy of their private communications. A spokesperson for the company also confirmed that the update did not result in the deletion of any accounts or the loss of WhatsApp functionality.

    In March 2021, CCI launched an inquiry into WhatsApp’s January 2021 upgrade. Because the policy change had been contested in both the Delhi High Court and the Supreme Court, Meta (formerly Facebook) and WhatsApp had petitioned the Delhi High Court to halt this probe.

    WhatsApp’s case was denied by a single-judge panel led by Justice Navin Chawla in April 2021. In August 2022, a division bench consisting of Justice Subramonium Prasad and then Chief Justice Satish Chandra Sharma dismissed the appeal that Meta (formerly Facebook) and WhatsApp had filed against the ruling.

    WhatsApp’s Updated Privacy Policy May Attract CCI Penalties
    WhatsApp faces potential penalties from India’s Competition Commission (CCI) for violating competition laws with privacy policy updates that allow data sharing.
    StartupTalkyNitin Konde

  • WhatsApp’s Updated Privacy Policy is Likely to Result in Penalties from the CCI

    According to recent media reports, WhatsApp is expected to receive an order from the Indian watchdog for fairness in trade practices for breaking the nation’s competition laws.

    The Competition Commission of India (CCI) has expressed its displeasure over a controversial amendment to WhatsApp’s privacy policy and service terms. The media reports further stated that a penalty can also be part of the CCI order.

    With its contentious 2021 update, WhatsApp would be able to share specific user data with its parent company, Meta Platforms Inc. (previously Facebook Inc.). Regulators around the world were agitated by this. According to various media reports, WhatsApp and its parent company Meta violated the anti-abuse of dominance rules of competition law, according to the director general of investigation (DG) of the Competition Commission of India (CCI).

    Who is Competition Commission of India?

    The Competition (Amendment) Act of 2007 revised the Competition Act of 2002, keeping it consistent with the principles of contemporary competition law. Anti-competitive agreements, the misuse of a dominant position by businesses, and mergers and acquisitions (M&A) that have the potential to significantly harm competition in India are all prohibited by the Act.

    With effect from October 14, 2003, the Central Government formed the Competition Commission of India, which is responsible for implementing the Act’s goals. The Central Government designates a minimum of two and a maximum of six Members to the Commission, in addition to the Chairperson.

    The Commission’s responsibilities include eradicating anti-competitive behaviours, fostering and maintaining competition, safeguarding consumer interests, and ensuring free trade in Indian markets. In addition, the Commission advocates for competition, raise public awareness of competition issues, and provide training on competition issues in response to a referral from a governmental entity created by any law.

    Director General of Investigation’s Report

    Various media reports further stated that the CCI has reviewed the DG’s report and is currently working on a draft order that will be issued to the two corporations shortly, imposing penalties for the alleged infractions.

    Citing sources, the newspapers stated that the CCI has determined that WhatsApp‘s sharing of user business transaction information with Meta gives the group businesses an unfair edge over rival platforms.

    “We are unable to comment on the CCI proceedings because they are under appeal.” According to an official statement from WhatsApp, users who opted not to accept the Privacy Policy Update can still use the app to interact with friends and family without having their accounts cancelled or losing functionality.

    Leveraging WhatsApp Business: Tips and Tools for Success
    In this comprehensive guide, we will explore the various ways businesses can leverage WhatsApp for their benefit and success.
    StartupTalkyRishi Mundra

  • CCI Approves Mankind Pharma’s INR 13,360-Crore Acquisition of Bharat Serums and Vaccines

    The Competition Commission of India (CCI) confirmed on October 1 that Mankind Pharma may purchase Bharat Serums and Vaccines for INR 13,630 crore.

    In a post on X, the regulatory body stated, “Commission approves acquisition of Bharat Serums and Vaccines Limited by Mankind Pharma Ltd.” In July, Mankind Pharma declared that it would pay about INR 13,630 crore to private equity firm Advent International to fully purchase Bharat Serums and Vaccines.

    Opting for a Definitive Agreement for the Acquisition

    For an enterprise value of about INR 13,630 crore, Mankind Pharma has finalised an agreement to purchase a 100% share in Bharat Serums and Vaccines. Mankind Pharma announced on 30 September that it would issue non-convertible debentures and commercial papers to raise up to INR 10,000 crore. The regulator, which monitors unethical corporate practices and fosters fair competition in the market, must approve deals that exceed a specific level.

    Mankind Pharma Vice Chairman and MD Rajeev Juneja stated in June of this year that the acquisition of BSV marks a significant turning point in Mankind’s history and positions the company as the industry leader in the Indian women’s health and fertility sector. One of the biggest pharmaceutical firms in India, Mankind Pharma, is involved in the development, production, and distribution of a wide variety of pharmaceutical finished dosage formulations.

    About Mankind Pharma

    In addition to producing and marketing a wide variety of pharmaceutical finished dosage formulations (FDFs) in both acute and chronic therapeutic areas, Mankind is a publicly traded company that also produces consumer healthcare products like condoms, emergency contraceptives, pregnancy tests, vitamins, minerals, and nutrients, antacids, and anti-acne preparations. Mankind is also involved in the production and distribution of active pharmaceutical ingredients (APIs), pharmaceutical intermediaries, and pharmaceutical product packaging through its subsidiaries.

    About Mankind BSV

    BSV and its subsidiaries work in the following areas: (a) ayurvedic medicines; (b) biotech and biological formulations and/or API; (c) food and health supplements; (d) medical devices; and (e) research, development, licensing, manufacturing, importing, exporting, marketing, and distribution of these products. In each case, these products are in the therapeutic areas such as gynaecology, in vitro fertilisation, critical care, and/or emergency medicines for human use. BSV’s operations in India, including those of its fully owned Indian subsidiary BSV Pharma Private Limited, which is currently undergoing a merger with BSV, are restricted to the development, production, and marketing of a variety of biological, biotech, and pharmaceutical products in the therapeutic domains of emergency medicine, critical care, women’s health, and IUI-IVF.

    List of Top 20 Pharmaceutical Companies in India
    Discover top pharmaceutical companies in India that are making a big impact on global healthcare industry by offering best healthcare solutions.
    StartupTalkyAshwini

  • In an Antitrust Investigation, Former Amazon Merchant Appario Retail Has Sued CCI

    According to court documents, Appario Retail, the former biggest seller on Amazon India, in which the e-tailer had a shareholding, has filed a lawsuit in the Karnataka High Court against the Competition Commission of India (CCI).

    Based on an antitrust regulator’s findings, the Bengaluru-based company has petitioned the court to suppress a probe into Amazon and its vendors. Amazon India sold the seller firm to Clicktech in April. As a result, the seller firm has petitioned the court to have the report that identified it overturned. The court’s hearing date on the subject is still unknown.

    CCI’s Findings Against Amazon and Flipkart

    This event coincides with rumors that the Competition Commission of India (CCI) has found that Amazon and Flipkart are giving preference to some merchants in India, and that the watchdog may fine these two online retailers.

    Delhi Vyapar Mahasangh, a traders organization and an affiliate of the Confederation of All India Traders (CAIT), initiated the CCI investigation in October 2019. The organization alleged that Amazon and Flipkart favored certain sellers over others.

    Since then, online markets and small merchants have been debating this issue frequently. Amazon and Flipkart both insist that they have complied with Indian laws. For a limited number of consumers who are paid subscribers, Amazon and Flipkart launched their main holiday sale on 26 September 2024 in order to provide speedier delivery and other services.

    In order to comply to regional e-commerce regulations, Amazon had to sell its ownership in Appario Retail, the second selling business. Amazon delisted and closed down Cloudtail, the largest seller at the time, in 2022. Catamaran Ventures, the founder of Infosys, and Amazon both had stakes in the business.

    The Significance of the Appario Retail Litigation

    Amazon has continuously refuted any misconduct, asserting that it abides by Indian law and handles all of its merchants equally. The company’s operations in India are seriously challenged by the CCI’s conclusions and the ensuing legal action.

    The action could have larger ramifications for India’s e-commerce sector and represents the first legal challenge to the CCI’s inquiry. Should Appario succeed, it might create a precedent that would encourage other businesses to question the CCI’s jurisdiction.

    Ecommerce Companies in India Are Under Strict Scanner

     Increased surveillance has been directed towards the Amazon in India. A question that was posed by the Minister of Commerce, Piyush Goyal, in August was whether or not the exponential expansion of eCommerce companies in the country was a “matter of concern” or something that should be celebrated.

    The government is also keeping a close eye on businesses that engage in quick trade. On 20th September a media report stated that the trade promotion organization DPIIT forwarded a complaint against rapid commerce companies that it had received from a retail sector body to the CCI. The report also stated that the commission had the option of taking suo motu notice of the matter.

    Flipkart and Amazon Violated Antitrust Regulations in India
    An Indian antitrust investigation has determined that U.S. eCommerce giant Amazon and Walmart’s Flipkart violated local competition laws by providing preferential treatment to specific sellers on their shopping websites, according to reports published by a reputable media outlet.
    StartupTalkyNitin Konde

  • To Calculate Fines in an Antitrust Lawsuit, CCI Wants Amazon and Flipkart’s Transaction Data

    According to a report published by a renowned media house, the Competition Commission of India has entered the final stage of its anti-trust lawsuit against Amazon and Flipkart. The regulator is seeking financial documents from the two e-commerce giants to determine the penalty.

    The specifics of the annual revenue will be used to assist in determining the penalties in the case that has been going on for four years after the defense of the two companies has been heard.

    Fine up to 10% on Global Turnover

    An update to the competition legislation was made in 2023 that allows the regulator to fine companies up to 10% of their global revenue or income from the last three fiscal years for anti-competitive actions. According to various media reports that were published earlier, the anti-trust regulator is poised to impose penalties on Amazon for alleged anti-competitive behavior. A notice was going to be published very soon, and the investigation arm of the CCI confirmed the accusations that were brought against Amazon Seller Services Pvt Ltd.

    Ecommerce Companies in India Are Under Strict Scanner

    Increased surveillance has been directed towards the Amazon in India. A question that was posed by the Minister of Commerce, Piyush Goyal, in August was whether or not the exponential expansion of e-commerce companies in the country was a “matter of concern” or something that should be celebrated.

    The government is also keeping a close eye on businesses that engage in quick trade. On 20th September a media report stated that the trade promotion organization DPIIT forwarded a complaint against rapid commerce companies that it had received from a retail sector body to the CCI. The report also stated that the commission had the option of taking suo motu notice of the matter.

    What Exactly Are Investigation’s Findings?

    An investigation into Amazon and Flipkart was ordered by the Competition Commission of India (CCI) in the year 2020. The CCI was concerned that the two companies were reportedly giving preference to certain listings and were encouraging particular merchants with whom they had business connections.

    Investigators from the Competition Commission of India (CCI) concluded that Amazon and Flipkart had developed an environment in which preferred merchants appeared higher in search results, thereby displacing other vendors. The CCI investigators made this discovery in two distinct reports, each of which was around 1,696 pages long and submitted on 9 August.

    According to both findings, which are not available to the public and are being published by a renowned media house for the very first time, each of the anti-competitive practices that were said to have occurred was investigated and confirmed to be genuine.

    Flipkart and Amazon violated antitrust regulations in India
    An Indian antitrust investigation has determined that U.S. eCommerce giant Amazon and Walmart’s Flipkart violated local competition laws by providing preferential treatment to specific sellers on their shopping websites, according to reports published by a reputable media outlet.
    StartupTalkyNitin Konde

  • Samsung, Xiaomi, and Other Smartphone Manufacturers Accused of Conspiracy With Amazon, and Flipkart by CCI

    According to regulatory reports that were reviewed by a media house, Samsung, Xiaomi, and other smartphone manufacturers conspired with Amazon and Walmart’s Flipkart to debut goods only on the websites of the eCommerce businesses in India. This was done in violation of antitrust regulations.

    Antitrust investigations carried out by the Competition Commission of India (CCI) have revealed that Amazon and Flipkart have violated local competition laws by giving preference to certain sellers, prioritizing certain listings, and steeply discounting products, thereby causing harm to other businesses. This information was reported by a well-known media outlet.

    How Do Samsung, Xiaomi, Motorola, Realme, and Oneplus in Partnership With Flipkart and Amazon Violate the Norms?

    In addition, the Competition Commission of India (CCI) stated in its 1,027-page report on Amazon that the Indian subsidiaries of five businesses, namely Samsung, Xiaomi, Motorola, Realme, and OnePlus, were “involved in the practice of exclusive” phone launches in “collusion” with Amazon and its affiliates, which is a violation of competition law.

    In the case of Flipkart, a report by the Competition Commission of India (CCI) that was 1,696 pages long stated that the Indian units of Samsung, Xiaomi, Motorola, Vivo, Lenovo, and Realme engaged in comparable practices.

    The involvement of smartphone manufacturers like as Samsung and Xiaomi in the lawsuit may provide them with additional challenges in terms of legal and regulatory compliance.

    The concept of exclusivity in the economic world is repulsive. CCI’s additional director general G.V. Siva Prasad said in the Amazon and Flipkart investigations, in identical findings, that not only does it go against the principles of free and fair competition, but it also goes against the well-being of customers.

    A particular media outlet noted in its special report that the CCI’s reports, which are dated August 9 and are not available to the public, have accused the smartphone companies of engaging in anticompetitive behavior.

    What Next?

    The CCI will examine any objections to its findings from Amazon, Flipkart, the retailer association, and the smartphone companies in the coming weeks. According to individuals familiar with the matter, the organization may impose fines and require the companies to modify their business practices.

    The Indian retail industry has long held that online marketplaces like Amazon and Flipkart, as well as smartphone manufacturers, introduce new models of phones exclusively online. This has led to complaints from local businesses who claim they were unable to keep up with customer demand for new models and instead turned to online merchants.

    Based on data analysis conducted by smartphone firms, both CCI reports concluded that exclusive releases had a significant impact on both online merchants and traditional brick-and-mortar stores that received mobile phones at a later period.

    Flipkart and Amazon violated antitrust regulations in India
    An Indian antitrust investigation has determined that U.S. eCommerce giant Amazon and Walmart’s Flipkart violated local competition laws by providing preferential treatment to specific sellers on their shopping websites, according to reports published by a reputable media outlet.
    StartupTalkyNitin Konde