BR100 Increased By (0.73%)
BR30 Increased By (0.59%)
KSE100 Increased By (0.73%)
KSE30 Increased By (0.76%)
AGHA 7.80 Increased By ▲ 0.05 (0.65%)
BECO 5.21 Increased By ▲ 0.02 (0.39%)
BML 57.01 Decreased By ▼ -1.65 (-2.81%)
BOP 34.21 Increased By ▲ 0.52 (1.54%)
CNERGY 10.80 Increased By ▲ 0.19 (1.79%)
CSIL 5.42 Increased By ▲ 0.12 (2.26%)
FCCL 54.85 Increased By ▲ 1.11 (2.07%)
FFL 16.70 Increased By ▲ 0.24 (1.46%)
FNEL 1.24 Increased By ▲ 0.02 (1.64%)
KEL 7.44 Increased By ▲ 0.16 (2.2%)
KOSM 5.78 Increased By ▲ 0.14 (2.48%)
LOTCHEM 29.78 Increased By ▲ 0.13 (0.44%)
MLCF 95.70 Decreased By ▼ -0.66 (-0.68%)
NBP 204.50 Increased By ▲ 0.97 (0.48%)
NCPL 57.81 Increased By ▲ 0.96 (1.69%)
NPL 69.27 Increased By ▲ 1.96 (2.91%)
OGDC 318.50 Increased By ▲ 0.28 (0.09%)
PACE 10.85 Increased By ▲ 0.22 (2.07%)
PAEL 43.00 Increased By ▲ 1.23 (2.94%)
PIBTL 16.88 Increased By ▲ 0.07 (0.42%)
PPL 221.25 Increased By ▲ 1.08 (0.49%)
PRL 51.40 Increased By ▲ 2.35 (4.79%)
PTC 71.15 Increased By ▲ 1.14 (1.63%)
SSGC 28.77 Decreased By ▼ -0.37 (-1.27%)
TBL 9.94 Increased By ▲ 0.17 (1.74%)
TELE 8.90 Increased By ▲ 0.08 (0.91%)
TPL 18.30 Increased By ▲ 1.13 (6.58%)
TPLP 12.99 Increased By ▲ 0.48 (3.84%)
TREET 22.72 Increased By ▲ 0.13 (0.58%)
TRG 59.95 Decreased By ▼ -0.27 (-0.45%)
World

Apple asks Indian court to stop antitrust body from seeking its financials

  • The US tech giant has said it fears it could be fined up to $38 billion if the watchdog uses its global turnover calculation for penalties
Published Updated
By

NEW DELHI: Apple has asked an Indian court to stop the country’s antitrust watchdog from seeking its global financial records as part of an investigation into its app store policies, while it challenges the underlying law’s validity, court papers show.

Apple is locked in a high-stakes legal battle with the Competition Commission of India (CCI), whose investigation accused the company of abusing its position on its app store. Apple denies the allegations.

Apple and the CCI did not respond to Reuters requests for comment.

The U.S. tech giant has said it fears it could be fined up to $38 billion if the watchdog uses its global turnover calculation for penalties. It has challenged the 2024 penalty rules in an Indian court, and the matter is pending.

India defends antitrust penalty law in Apple fight

Still, the CCI pressed ahead and sought financials from Apple in a private order on December 31, and Apple has now asked a Delhi High Court judge to direct CCI to not act against the company at this stage, and put the entire investigation on hold, according to a January 15 Apple filing which is not public.

Apple argues that being forced to comply now would defeat its main legal challenge against India’s penalty rules, which the CCI has defended as necessary to discourage breaches by multinationals.

The Delhi High Court is scheduled to hear the matter on January 27.

Comments

200 characters remaining