Flipkart a big shock, company accused of monopolizing monopoly, SC expresses concern for small businessmen
New Delhi:
The difficulties of e-commerce company Flipkart are increasing. The Supreme Court said on Tuesday, 20 May that Flipkart is known for making monopoly on the market. The court also said that due to the increasing influence of such big companies, the future of small businessmen may be in danger.
CCI investigation case
The comment has brought this comment with the order of the National Company Law Appellate Tribunal (NCLAT), asking the CCI (Indian Competition Commission) to investigate the allegations of misuse of its strength on Flipkart. The court has also appointed an Amicus Curiae to help in this case.
Court concerns: “It is good for big companies to come, but …”
During the hearing, the court said that we want big companies to come to India and invest, but at the same time they will have to keep an eye on what is affected by their growing impact. Nyamurthy Suryakant said that many times Flipkart offers such a big discount that the business of small businessmen is badly affected.
Flipkart cleaning
On behalf of Flipkart, the lawyer said that his online platform gives small traders a chance to sell their products across the country. He also said that he will cooperate fully in the investigation of the court.
Next hearing will be held in August
The case is related to the NCLAT order of March 4, 2020, in which CCI was asked to start an investigation. The CCI had earlier given a clean chit to Flipkart, but the NCLAT overturned the decision. Now the Supreme Court has said to consider the issue deeply, even if the complainant organization is no longer in the court.