Apple Challenges India's Antitrust Penalty Law, Risks $38 Billion Fine
AI Summary1 min read
TL;DR
Apple is contesting India's antitrust penalty law, calling it unconstitutional and risking a $38 billion fine based on global turnover. The company denies wrongdoing and awaits a decision from India's Competition Commission.
Tags
AppleIndia antitrust law$38 billion fineCompetition Commission of India
Apple is challenging India's antitrust penalty law, which could result in a fine of up to $38 billion, according to a court filing. The company is arguing that the law is unconstitutional and would lead to an arbitrary fine based on global turnover. Apple denies any wrongdoing and is awaiting a final decision from the Competition Commission of India. The case is the first against India's antitrust penalty law, which allows the CCI to use global turnover when calculating penalties.
