Apple to Submit India Financials in Antitrust Probe, Faces Global Turnover Penalty Risk

Apple has agreed to submit its India‑specific financials to the Competition Commission of India (CCI) by June 25, 2026, marking a turning point in a long‑pending antitrust case over App Store billing practices. The move brings the investigation closer to a potential penalty decision.

A confidential CCI order, reviewed by Reuters, showed Apple last month agreed to supply its India financials, which is typically needed by the watchdog for calculatiing the penalty.

Apple’s lawyer asked the CCI at a May 21 hearing for a ”final extension” until June 25 to file its ”India-specific financial information”, and ”the commission considered the request and granted” it, the order noted.

Key Developments

• Case origin: Filed in 2021 by Match Group (Tinder) and Alliance of Digital India Foundation (ADIF), alleging anti‑competitive App Store policies
• CCI findings (2024): Apple was found to have abused its dominant position in the iPhone apps market; Apple denied wrongdoing
• Financials submission: Apple’s lawyer requested a final extension until June 25, 2026 to file India‑specific financial data; CCI granted the request
• Penalty implications: CCI needs financials to calculate fines; penalties may be based on global turnover, exposing Apple to fines up to USD 38 billion

Apple in India

• Market share: iPhone now accounts for 9% of India’s smartphone market, up from 2% five years ago
• Manufacturing: India has become a key hub as Apple diversifies beyond China, with production expanding via Tata Electronics and Foxconn
• Regulatory climate: India’s new antitrust penalty law is among the toughest globally, making this case Apple’s most high‑profile regulatory challenge in India

Strategic Implications

• For Apple: Risk of multi‑billion‑dollar fines if penalties are calculated on global turnover; pressure to adjust App Store billing practices in India
• For India’s digital ecosystem: Strengthens startup advocacy groups like ADIF; could reshape in‑app payment rules; signals India’s intent to enforce global‑scale accountability

Timeline Snapshot

Event	Date	Details
Case filed by ADIF & Match Group	2021	Alleged anti‑competitive App Store policies
CCI investigation concludes	2024	Found Apple abused dominance
Apple resists financial disclosure	2024–2025	Argued penalties should not use global turnover
CCI grants final extension	May 21, 2026	Deadline set for June 25
Financials submission due	June 25, 2026	Key step toward penalty decision

Tata Sons Pumps ₹5,166 Crore Into Tata Teleservices to Tackle AGR Dues, Stake Rises to 94.3%

Tata Sons has infused ₹5,166 crore into its loss-making telecom arm, Tata Teleservices, during FY26, raising its stake to 94.3% and enabling the company to pay ₹3,517 crore in adjusted gross revenue (AGR) dues to the government. This move underscores Tata’s continued financial support for struggling group businesses like Air India, Tata Digital, and Tata Teleservices.

This news of funds infusion was first reported by The Financial Express on June 5, 2026, based on company filings and a Tata Sons spokesperson’s confirmation. There was no official Tata Sons press release, only media disclosure backed by direct confirmation.

Key Details of the Infusion

• Amount infused: ₹5,166 crore (March 2026, via preferential allotment of shares at ₹10 face value)
• Purpose: Payment of AGR dues — first instalment of ₹3,517 crore paid by March 31, 2026
• Stakeholding: Tata Sons’ stake in Tata Teleservices increased to 94.3%
• Financials (FY26):
  • Standalone income: ₹2,322 crore
  • Standalone net loss: ₹1,907 crore
  • Consolidated income: ₹3,641 crore
  • Consolidated net loss: ₹1,482 crore

Context & Background

• AGR liabilities: Tata Tele faces six instalments of AGR dues, part of a cumulative liability exceeding ₹19,000 crore
• Past support: Tata Sons repaid Tata Tele’s loans and bought back NTT Docomo’s stake for $1.18 billion in 2017
• Business model today: Operates under Tata Tele Business Services (TTBS), offering enterprise voice, data, and managed services
• Wireless exit: Tata Tele exited consumer wireless services in 2019, transferring operations to Bharti Airtel

Strategic Implications

• Group-wide revival focus: Tata Sons’ board is reviewing revival plans for Air India, Tata Digital, and Tata Electronics alongside Tata Tele
• Profit outlook: Air India and Tata Digital expected to remain loss-making for three years; Tata Electronics may turn marginally profitable
• Telecom industry strain: AGR dues continue to weigh heavily on Indian telcos, with Supreme Court rejecting waiver pleas

Risks & Challenges

• Persistent losses: Despite infusion, Tata Tele remains deeply loss-making with negative net worth
• AGR burden: Long-term liabilities (₹19,000+ crore) could require further capital support
• Sectoral headwinds: Telecom industry faces high regulatory costs, intense competition, and limited profitability

Quick Comparison: Tata Group’s Loss-Making Arms

Company	FY26 Loss	Revival Outlook
Tata Teleservices	₹1,907 crore (standalone)	Enterprise services focus; AGR dues repayment ongoing
Air India	Losses projected for 3 years	Fleet expansion, operational restructuring
Tata Digital	Losses projected for 3 years	Pivot away from super-app model
Tata Electronics	Marginal profit expected	Supported by semiconductor subsidies

Hcltech Climate Action Grant in the Americas Awards $1Mn to Advance Scalable Climate Solutions in Its 3rd Edition

HCLTech, a leading global technology company, today announced Guatemala-based CISP - Comitato Internazionale per lo Sviluppo dei Popoli as the winner and Argentina-based Aves Argentinas and Mexico-based Isla Urbana – Lluvia para Todos A.C. as runners-up of the third edition of the HCLTech Climate Action Grant in the Americas. The three nonprofit organizations (NPOs) will collectively receive $1 million to scale innovative climate initiatives across the Americas.

CISP will receive $500,000, while Aves Argentinas and Lluvia para Todos will each receive $250,000. The funding will enable the organizations to expand their work in water security, biodiversity conservation and access to clean water in climate-vulnerable regions.

CISP will focus on improving water security and sustainable land management in Guatemala’s dry corridor with the aim to bring clean water back to 200 families through rainwater harvesting. Aves Argentinas will advance ecological restoration and biodiversity conservation in the Atlantic Forest region of the Iguazú river basin with estimated impact of restoring more than 790 hectares in the community. Lluvia para Todos will expand community-based rainwater harvesting systems in water-stressed regions of Mexico with approximately 2,300 individuals benefitting from rainwater harvesting providing a total of 4.2 million liters of harvested water.

The 2026 edition attracted applications from NPOs across 10 countries in the Americas —Argentina, Brazil, Canada, Colombia, Costa Rica, Guatemala, Mexico, Panama, Peru and the United States — reflecting a 41% increase since the program’s launch. A seven-member jury comprising of HCLTech leaders and external experts selected the finalists through a multi-stage evaluation process, based on their ability to deliver scalable and locally relevant climate solutions.

“We are inspired by the ingenuity and commitment demonstrated by this year’s recipients, who are driving meaningful climate action in the communities that need it most,” said Dr. Nidhi Pundhir, Senior Vice President, Global CSR, HCLTech. “As the program enters its third year, we are seeing tangible progress in advancing sustainable, community-led solutions, reinforcing our commitment to enabling long-term climate resilience across the region.”

The program builds on the momentum of the previous six NPO recipients, whose initiatives have contributed to ecological restoration, climate resilience and sustainable community development across the Americas. To date, efforts supported through the Grant have enabled the planting of more than 360,000 native trees and mangroves, and empowered more than 1,400 young people, students, and educators through climate leadership. These efforts have strengthened biodiversity and marine ecosystems and advance sustainability education and environmental stewardship programs through AI-enabled environmental monitoring.

Launched in 2023, the HCLTech Climate Action Grant in the Americas is part of the company’s broader sustainability and CSR strategy to invest in and strengthen the communities it serves. HCLTech committed $5 million over five years for this initiative.

HCLTech continues to be recognized for its dedication to combatting climate change and overall sustainability initiatives, including being ranked among the top 15 in Professional Services in the World’s Most Sustainable Companies 2025 list by TIME.

For more information on HCLTech Climate Action Grant in the Americas, its mission and the application process, please visit americas-grant.hcltech.com.

Innefu Labs Raises $30M in Series B Round to Advance Sovereign AI for National Security

Innefu Labs, India’s leading Artificial Intelligence company in the space of National Security, founded by Tarun Wig and Abhishek Sharma, has raised USD 30M from Panthera Growth Partners, marking one of the most significant milestones in India's National Security technology sector. The company has been at the forefront of creating indigenous platforms and multi-modal fusion systems currently deployed across defense, intelligence, law enforcement, revenue intelligence, and large enterprise clients.

Founders of Imefu Labs

The capital injection, completed through a combination of primary and secondary transactions from Panthera’s second fund, positions Innefu for an IPO and accelerates its push into international markets after Innefu’s initial successful forays in Middle East.

The investment comes as India's sovereign defense initiatives drive sharply increased domestic procurement of critical security technologies. Building on consistent revenues above ₹100 crore, Innefu’s momentum is reflected in a growing pool of multiple ₹100 crore+ contracts spanning defense, intelligence, law enforcement, and revenue intelligence operations.

The proceeds will fund Innefu's next phase of scaling and global expansion, alongside deep-tech R&D anchored in its AI-first, sovereign capabilities. This includes advancing its proprietary Agentic AI platform, establishing a dedicated Physical AI (robotics) wing, and developing sovereign AI infrastructure with secure, domain-specialized language models built for high-trust environments.

Tarun Wig, Co-Founder and CEO of Innefu Labs, stated: "When we started Innefu, our vision was clear: India should never have to depend on external technologies to secure its people, its institutions, or its digital future. Over the last fifteen years, we have transformed that vision into reality, building indigenous AI-powered platforms that protect critical national assets, empower decision-makers, and strengthen the country's security ecosystem.

We now intend to scale our innovations faster, deepen our investments in advanced AI and further enhance our autonomous decision-support systems. We believe the next wave of technological leadership will belong to nations that own their intelligence capabilities, and Innefu is committed to ensuring that India stands at the forefront of that transformation.

What excites us most is that we are still at the beginning of our story. The foundations have been laid, the talent is in place, and the mission has never been clearer. With this new chapter, we are not just building a company, we are helping build the technological backbone of a secure, self-reliant, and AI-powered India for generations to come."

Shilpa Kulkarni, Founder and Managing Partner of Panthera Growth Partners, stated: "Innefu has built native, AI-powered software that solve critical challenges in national defense and enterprise security infrastructure. Our investment decision is based on their proprietary technology, deep domain expertise, and a proven track record in high-stakes, mission-critical environments. We are partnering with Innefu to support their growth ambitions as they prepare for public markets."

Operational Footprint and Market Context

The domestic security technology market involves complex technical requirements historically met by international defense vendors. Innefu's deployments include several national scale AI intelligence fusion centres including India's first National Terrorism Data Fusion Centre, Southeast Asia's largest operational Intelligence Fusion Centre, Revenue Intelligence Fusion Platforms, Predictive Policing Platforms, Indigenous open-source intelligence (OSINT) and Deep Web Fusion Platform for Law Enforcement & Defense Agencies.

Abhishek Sharma, Co-Founder and CTO of Innefu Labs, added: "For over a decade, we've solved mission-critical challenges for defense, intelligence, and investigative agencies. As governments worldwide move toward AI-driven decision-making, our mission is to build trusted, AI-first indigenous platforms that strengthen national security and keep critical data & platforms sovereign. This funding accelerates our next chapter: advancing our Agentic AI capabilities, venturing into Physical AI and robotics, and expanding globally, building the full sovereign AI stack that high-trust environments demand"

Krishan Kant Rathi, Managing Partner at First Bridge Investment Managers, stated: “We are proud to have backed Innefu Labs in 2017, recognizing its vision to build AI-driven platforms for India’s critical sectors. It is immensely satisfying to see Innefu emerge as a key technology partner for national intelligence and investigative agencies. This funding round will further accelerate its growth and global expansion.”

Panthera’s second fund, backed by institutional investors from India, the European Union, and the United States, focuses on growth-stage companies with established product-market fit, deploying an average capital allocation of USD 20 million per company across India and Southeast Asia. The firm’s historical portfolio across its fund vehicles includes allocations in FoxTale, OfBusiness, Zivame, Travelstack Tech, EMotorad, Flipspaces etc.

About Innefu Labs

Founded in 2010 by Tarun Wig and Abhishek Sharma, Innefu is an AI driven company in the field of National and Cyber Security. The company was started with a clear focus to carry out high Tech R&D which fuels innovation and leads to products which can capture the global market and be the cornerstone of the economy of the country. Innefu is a fully indigenous Artificial Intelligence company committed to strengthening National and Cyber Security. With more than 100+ installations across Indian Subcontinent, Middle East and South East Asia, the company is today a de-facto leader in developing and deploying AI for National and Cyber Security.

The company with its own range of products serves a diverse client base including Defense and Intelligence organizations, Law Enforcement Agencies, Financial Intelligence Units, BFSI as well as top Fortune 500 companies. Having worked with some of the most sensitive organizations the company has a deep understanding of handling sensitive and critical installations.

For more information, visit www.innefu.com

Google Adds New History and Personalisation Controls Across Search Services

Google is updating its settings to give users even more control over saved history and personalised recommendations across Google Search services, including Search, Maps, Shopping, Hotels, Flights, Translate and News. You'll see this change in your Google Account in the next few days.

A Major Update to Google Accounts

Google's this significant update to its account settings, giving users more control over how their search history and personalised recommendations are managed. The changes affect multiple services including Search, Maps, Shopping, Hotels, Flights, Translate, and News. These updates will appear in Google Accounts over the coming days.

Transition from Web & App Activity

Previously, history and personalisation were controlled through the Web & App Activity setting. Google is now introducing two distinct options: Search Services History and Personalised Recommendations. This separation allows users to revisit past searches, decide whether their experience should be personalised, and manage saved media such as images, audio, and video from interactions with tools like Lens or Search Live.

Search Services History Explained

Search Services History will store queries and interactions across Google’s search ecosystem. It also introduces a new “Save Media” subsetting, which retains files, images, and audio generated during searches. This feature supports interactive experiences such as revisiting Lens searches or continuing a live conversation about a song. Users can turn off this setting at any time or delete individual pieces of media.

Personalised Recommendations

The new Personalised Recommendations setting determines whether Google tailors search results based on past activity. When enabled, it can reorder results to highlight preferred formats, such as videos or shopping links. Importantly, users can toggle this feature on or off independently of their history settings.

Privacy and Auto-Delete Controls

Google has confirmed that existing auto-delete preferences from Web & App Activity will carry over to Search Services History. Users can continue to set custom retention periods, delete history manually, or disable saving altogether. The company emphasises that saved media and history are protected by robust privacy and security measures, and are also used to improve Google’s AI models and safety systems.

Impact on Users

For most users, the transition will be seamless. If Web & App Activity was previously enabled, the new settings will default to “on.” If it was disabled, the new settings will remain “off.” After the change, Web & App Activity and Search Services History will operate independently, ensuring that adjustments to one do not affect the other.

Managing Preferences

Users can manage these new settings directly from their Google Account under the Search Services History and Personalisation pages. This update reflects Google’s broader strategy to give users more transparency and control over their data while supporting evolving search behaviours, including visual and interactive queries.