India High Court Refuses Amazon, Walmart-Owned Flipkart's Antitrust Quash Appeals: Reuters - Amazon.com (NASDAQ:AMZN), Walmart (NYSE:WMT)

An Indian court dismissed Amazon.com Inc AMZN and Walmart Inc’s WMT Flipkart’s appeals to crush the antitrust investigation into their business practices, Reuters reports.
The Competition Commission of India (CCI) announced its investigation in Jan. 2020 after a trader group blamed the firms for favoring selected sellers and hampering the prospects of the smaller sellers.
The investigation listed four anticompetitive practices, including exclusive mobile phone launches, seller partiality, deep discounting practices, and discriminating seller listings.
The investigation was put on hold in Feb. 2020 after the firms challenged the CCI’s lack of evidence regarding the firms’ anticompetitive practices.
The Karnataka High Court dismissed the firms’ petitions refusing any further exemption.
The CCI decided to restart the probe based on Reuters investigation that highlighted Amazon’s preferential treatment to selected sellers through lower fees and special deals with big tech firms.
Amazon had refuted the allegations and defied the story as evidence for the investigation.
Price action: AMZN shares traded lower by 0.29% at $3,340.56 on the last check Friday.