CCI scrutiny finds Zomato & Swiggy breached competition laws: Report

Quick Summary:

Zomato was found to have imposed pricing and discount restrictions on restaurant partners, while Swiggy threatened to lower the rankings of partners who didn't maintain price parity.

Shares of Zomato closed 3.22% lower at Rs 247 apiece on Friday, while Swiggy's IPO was subscribed 3.59 times on its final day (November 8).

The final phase of the CCI investigation involves a decision by the CCI leadership, which is still reviewing the investigation findings.

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Article Details

Author / Journalist: Akshita Toshniwal

Category: StartupsEconomyBusiness

Markets: India

Topics: Policy Practices Competition Privacy Investigation Swiggy Zomato Partners Business Lower Restaurant

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 11:36:23 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 317 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 23469628

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