12:57 PM EDT, 09/12/2024 (MT Newswires) -- Amazon.com ( AMZN ) and Walmart's ( WMT ) Flipkart have been found in breach of competition laws in India, Reuters reported Thursday, citing confidential reports it had seen.

In separate Aug. 9 investigative reports, the Competition Commission of India, or CCI, said Amazon ( AMZN ) and Flipkart created an ecosystem where preferred sellers appeared higher in search results, while other sellers remained "mere database entries," according to the reports, Reuters said.

The companies will now review the report and submit any objections before the regulator decides any potential fines.

A complaint from a group of brick-and-mortar retailers called Delhi Vyapar Mahasangh triggered the investigation by CCI in 2020, Reuters said.

Amazon ( AMZN ) declined to comment to MT Newswires, while Flipkart and the CCI didn't immediately respond.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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