Competition Commission of India Penalties: The Competition Commission of India has imposed fines on 3 big companies of the country on Wednesday. Let us tell you that the Competition Commission of India has imposed a total fine of Rs 392.36 crore on online travel services provider MakeMyTrip, Goibibo and hotel services provider OYO for unfair trade practices.
who is fined how much
The CCI, in its 131-page order, said that MakeMyTrip, Goibibo have been fined Rs 223.48 crore and OYO Rs 168.88 crore. Thus a total fine of Rs.392.36 crore has been imposed.
what is the charge
Let us tell you that MakeMyTrip has been accused of implementing price parity in its agreements with hotel partners. Under such agreements, hotel partners are not allowed to offer their rooms on any other platform or on their online portal at a price lower than the price they are offering on the platform of these two entities. Huh.
fined due to
Along with imposing the fine, CCI asked MakeMyTrip to revise its agreements with hotel operators. In another allegation, it was said that MakeMyTrip gave a lot of preference to OYO on its platform, which is hampering market access for other companies. The Competition Commission of India had ordered a detailed inquiry into the matter in October 2019. In 2017, MakeMyTrip acquired Ibibo Group Holding, which is trading under the name Goibibo Bonds.