Morpheus Research Uncovers Persistent Anti-Competitive Practices at MakeMyTrip Amidst Regulatory Challenges
Morpheus Research released a report accusing travel platform MakeMyTrip of ongoing anti-competitive practices despite a penalty from the Competition Commission of India in 2022. Allegations include price parity enforcement and accounting discrepancies. A new investigation by CCI is underway, with findings expected by early 2026.
- Country:
- India
In a significant development, Morpheus Research has accused MakeMyTrip of continuing anti-competitive practices despite earlier regulatory penalties. Released on Monday, the report claims that MakeMyTrip is still enforcing price parity with hotel partners, disregarding a USD 26 million fine imposed by the Competition Commission of India (CCI) in 2022.
According to Morpheus Research, an activist short-seller with a disclosed short position in the company, the travel platform uses internal mechanisms such as a 'price competitiveness score' to maintain price parity indirectly. Adding to their concerns, the research highlights potential accounting irregularities and exposure to GoAir's insolvency.
Furthermore, Morpheus Research revealed that a new CCI investigation is set for 2026, casting a shadow over MakeMyTrip's operations. Despite MakeMyTrip's claims of compliance, Morpheus asserts that the company continues to defy regulatory orders, as supported by testimonies from industry experts and former employees.
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