India's competition regulator said on Wednesday that it had fined online hotel-booking companies MakeMyTrip Ltd and Goibibo and IPO-bound hotel chain Oyo a combined $47 million for anti-competitive behaviour.
A security guard stands outside the Competition Commission of India headquarters in New Delhi, India, January 13, 2020. REUTERS/Adnan Abidi
"OYO believes that our business practices and conduct comply with all applicable laws and will take all necessary steps to explain our position in the appropriate forums," the company said. The Federation of Hotel and Restaurant Associations of India had alleged that agreements between Oyo and Nasdaq-listed MakeMyTrip to give preferential treatment to Oyo on its platform were restricting market access to competitors such as Fab Hotels and Treebo.
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