Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Competition Commission Starts Recovery Proceedings Against Google: Report
CCI had imposed a penalty of Rs 1,336.7 crore on Google on October 20 for indulging in anti-competitive conduct
Topics
Competition Commission of India | Google | BS Web Reports
The Competition Commission of India (CCI) has reportedly initiated the recovery process to collect Rs 1,336.7 crore worth of dues from Google, the period for which has lapsed. According to a report by BusinessLine, key personnel at Google may also face prosecution for "non-compliance" with directives.
CCI had imposed a penalty of Rs 1,336.7 crore on Google on October 20 for indulging in anti-competitive conduct. On October 25, another penalty of Rs 937 crore was imposed. The law provides the company with a window of 60 days to appeal before the NCLAT against the penalty.
Google has neither deposited the penalty, nor has it appealed against the order. The report cited sources as saying that CCI now has the right to freeze the bank accounts of Google and attach the properties for recovery.
On the 61st day, a demand notice is issued and 30 days are given to pay the penalty. Once the 30-day period is exhausted, a recovery notice is issued and the attachment of the bank account and their property takes place.
"We have decided to appeal the CCI's decision on Android as we believe it presents a major setback for our Indian users and businesses who trust Android's security features, and potentially raises the cost of mobile devices," Google said recently.
"We look forward to making our case and remain committed to our users and partners," it added. No appeal has yet been filed.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, December 28 2022. 14:53 IST
RECENT NEWS
Titi Coles Legacy In Finance: Pioneering Diversity And Leadership
Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more
Rising Rates, Rising Challenges: Bankers Adapt To Serve Troubled Companies In A Changing Economic Landscape
As interest rates climb, troubled companies are facing heightened financial pressures, prompting them to seek assistance... Read more
The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma
In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more