ETtech Explainer: Why Apple is fighting India’s heavy-fine rule

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iPhone maker Apple has approached the Delhi High Court to contest recent changes to India’s competition law, which let the Competition Commission of India (CCI) calculate fines using a company’s global turnover.

This is the first challenge to the new rule, which previously allowed penalties only on India-based turnover.

What Apple is disputing

Under the amended Competition Act, the CCI can impose fines of up to 10% of a company’s “global turnover derived from all the products and services” retrospectively. Earlier, penalties were limited to…



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ETtech Explainer: Why Apple is fighting India’s heavy-fine rule



iPhone maker Apple has approached the Delhi High Court to contest recent changes to India’s competition law, which let the Competition Commission of India (CCI) calculate fines using a company’s global turnover.

This is the first challenge to the new rule, which previously allowed penalties only on India-based turnover.

What Apple is disputing

Under the amended Competition Act, the CCI can impose fines of up to 10% of a company’s “global turnover derived from all the products and services” retrospectively. Earlier, penalties were limited to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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