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Investing.com -- Apple Inc. has filed a plea in the Delhi High Court challenging a change in India’s competition law that would allow the nation’s antitrust watchdog to impose penalties based on global turnover.
The court has sought the Indian government’s response to Apple’s plea and will hear further arguments in the case on December 16.
According to Apple’s lawyer Abhishek Manu Singhvi, the company potentially faces a penalty of $38 billion and is seeking interim protection from the court during the ongoing proceedings.
The Competition Commission of India (CCI) has requested Apple’s financial details by December 8, as informed to the court by the company’s counsel.
Government lawyer Balbir Singh countered that Apple’s petition was an attempt to delay the CCI’s investigation into the iPhone maker.
The case centers around recent modifications to India’s competition regulations that would allow penalties to be calculated based on a company’s worldwide revenue rather than just its Indian operations.
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