Tech

Google Antitrust Fine Amount ‘Temporary’; CCI awaits subtle financial details


The Competition Commission fine amount is Rs. The 1,337.68 crore imposed on Google is “temporary” as the regulator has asked the internet company to provide the necessary financial details because the data is not presented reliably.

On Thursday, the watchdog fined Google for abusing its dominant position in many markets involving Android mobile equipment and also ordered the company to cease operations and eliminate various unfair business practices.

Penalty of Rs. 1,337.76 crore is equivalent to 10% of Google’s average relevant revenue for the previous three financial years 2018-19, 2019-2020 and 2020-21.

Follow Competition Commission of India (CCI)Google has made significant enhancements to the financial data presented in the October 11, 2022 submission, prior to December 17, 2021.

However, this data is still subject to numerous warnings, disclaimers, assumptions, exclusions, as per the regulator’s order passed on Thursday.

“The Commission takes seriously such apparent contradictions and broad disclaimers in the presentation of various data points by Google. The Commission is bound to observe that although only “Using enormous resources, Google did not provide the data in the manner sought by the Commission, despite the CCI said in its order released Friday.”

In a statement on Friday, Google said it would review the CCI order and consider it a “major setback” for Indian consumers and businesses.

According to the order, the total revenue of different segments/heads in the fiscal year 2021-21 is higher than the total revenue of Google in the aforementioned fiscal year.

“Therefore, taking a cautious approach at this stage, the Commission decided to take lower revenue data, as submitted by Google vide on October 11, 2022, as the related revenue to calculate the amount of money. penalty,” it noted.

In the 293-page order, the regulator said the fine was “temporary and subject to review when Google provides the necessary financial details and supporting documents as requested by the Commission.” video on September 19, 2022″.

The internet specialist was asked to do the necessary work within 30 days of receiving the latest order.

“It should be further clarified that the basis for determining the penalty, i.e. the related revenue as well as their appropriate percentage, has been determined under this order.

“However, the actual number of penalties can be modified based on revenue data submitted by Google, and to that extent alone, existing penalties are temporary.”

“This clearly shows that the data has not been reliably presented by Google. In this regard, it can be seen that the Commission has given clear direction to Google that the data should be supported by other sources. Certified Public Accountant certificate, however, Google has taken note of regulatory authorities.

As for Google’s claims, the CCI said it did not find any mitigating factors in the current issue, which would warrant a reduction in the penalty calculation, with aggravating factors instead because Google’s behavior has continued unhindered at least since 2011.


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