MUMBAI (Reuters) -An Indian court on Friday dismissed appeals by Amazon.com Inc and Walmart's Flipkart that sought to stall an antitrust investigation into their business practices, dealing a major setback to the U.S. firms in a key market. On Friday, the High Court in southern Karanataka state rejected the U.S. firms' appeals. The two firms are likely to appeal the decision at India's Supreme Court, according to people familiar with the case. Flipkart said in a statement it would review the court’s order, adding that it remains in compliance with Indian laws. Abir Roy of Sarvada Legal, which filed the antitrust case against Amazon and Flipkart on behalf of a trader group, said the court's decision "further reinforces that the CCI investigation should continue promptly."

Source: The Star July 23, 2021 05:36 UTC