Zomato Falls as India Antitrust Body Orders Probe Into Business

April 5, 2022, 6:04 AM UTC

Shares of food-ordering platform Zomato Ltd. slipped after the Competition Commission of India initiated an investigation into the company’s conduct following a complaint filed by the National Restaurant Association of India that alleges contravention of rules.

  • Director general of CCI will carry out the probe and the report will be submitted in 60 days, according to an order on the agency’s website
  • Stock falls as much as 4.8%, before paring about half the maximum decline
  • NOTE: India CCI to Probe Antitrust Allegations Against Zomato, Swiggy

To contact the reporter on this story:
Nupur Acharya in Mumbai at nacharya7@bloomberg.net

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