Apple Challenges India’s Demand for Global Financial Records

Image via Kush Thakkar

Apple is currently locked in a high-stakes legal standoff with the Competition Commission of India (CCI). The tech giant has recently approached the Delhi High Court, seeking to block the antitrust regulator from accessing its global financial records, as reported by Reuters.

The conflict stems from a long-running investigation into Apple’s App Store policies. The CCI has accused Apple of abusing its dominant position by forcing developers to use its proprietary in-app payment system. Apple, which denies any wrongdoing, argues that the current investigation should be put on hold while the court decides on the legality of the country’s penalty framework.

Under the 2024 penalty rules, the CCI can now calculate fines based on a company’s global turnover rather than just its revenue within India. Apple has expressed deep concern that this could lead to a fine as high as $38 billion, a figure it describes as grossly disproportionate. By seeking to block the disclosure of its worldwide financials, Apple is attempting to protect itself from what it calls an unconstitutional penalty regime. The company argues that providing this sensitive data now would undermine its ongoing legal challenge against the validity of these very rules.

The CCI, however, is not backing down. On December 31, the watchdog issued a private order demanding Apple’s financial details to move the investigation forward. The regulator maintains that global turnover is a necessary metric to discourage anti-competitive behavior by massive multinational corporations.

Stay updated with the latest news on this by downloading the Appleosophy App from the App Store or by visiting our website.

Total
0
Shares
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Related Posts