## Short-Seller Morpheus Accuses MakeMyTrip of Anti-Competitive Practices and Profit Inflation
Activist short-seller Morpheus Research has launched a direct attack on India's online travel giant MakeMyTrip, alleging a pattern of anti-competitive behavior, the use of "accounting tricks" to inflate profits, and a failure to protect customers from unsafe hotels. The firm, which holds a short position in MakeMyTrip, bases its claims on interviews with over 100 industry insiders, including former employees, hotel chain managers, and rival executives. MakeMyTrip has declined to comment on the report, stating it does not respond to short-seller allegations.

The accusations land on fertile ground, as MakeMyTrip has a recent history with India's antitrust watchdog. In 2022, the Competition Commission of India (CCI) fined the company approximately $26 million for anti-competitive conduct, specifically for imposing price parity clauses on hotel partners. This practice prevented hotels from offering lower prices on their own websites or other platforms. The CCI ordered MakeMyTrip to cease this activity, creating a regulatory backdrop that lends weight to the new allegations of ongoing unfair practices.

This report from Morpheus Research intensifies scrutiny on MakeMyTrip's market dominance and operational integrity. It raises significant questions for investors and regulators about the company's compliance with the CCI's previous order and the true nature of its financial health. The allegations of profit manipulation and customer safety failures, if substantiated, could expose the company to renewed regulatory pressure, legal challenges, and a potential erosion of consumer and partner trust in a highly competitive sector.
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- **Source**: Inc42
- **Sector**: The Vault
- **Tags**: short-seller, antitrust, profit inflation, hospitality, India
- **Credibility**: unverified
- **Published**: 2026-03-31 10:26:55
- **ID**: 42918
- **URL**: https://whisperx.ai/en/intel/42918