CURRENT AFFAIRS

Detailed explanation-1: -The Competition Commission of India (CCI) on Wednesday (October 19) fined online hotel booking sites MakeMyTrip and Goibibo , and IPO-bound budget hotel chain OYO for a total of over Rs. 392 crore ($47 million) for anti-competitive conduct in hotel room listings.

Detailed explanation-2: -Competition Commission of India had imposed a penalty of ₹223 crore on MMT for indulging in anti competitive practices. Nasdaq-listed MakeMyTrip (MMT) has deposited 10 per cent of the CCI imposed penalty amount of ₹223.48 crore for indulging in anti-competitive practices.

Detailed explanation-3: -Non-compliance of CCI directions issued under Section 36(2)/(4) or non-adherence to the directions issued by a Director General (without sufficient cause for the same) is punishable with a fine of Rs. 1,00,000 for each day of default, subject to a maximum of Rs. 10 million.

Detailed explanation-4: -Competition Commission of India (CCI) has recently fined Rs 202 crores on which company? Notes: The Competition Commission of India (CCI) suspended its over two-year-old approval for Amazon’s deal to acquire stake in retailer Future Coupons Private Limited.

Detailed explanation-5: -The Competition Commission of India (CCI) on Wednesday imposed monetary penalties of ₹223.48 crore on MakeMyTrip-Goibibo (MMT-Go) and ₹168.88 crore on OYO (Oravel Stays Limited) for indulging in anti-competitive conduct in the hotel segment of their business and thereby contravened the Competition law.