The Competition Commission of India(CCI) has dismissed a complaint against credit information company TransUnion CIBIL. The complaint was filed by Hyderabad-based Venugopal Reddy who is in the business of infrastructure projects.

Reddy had alleged that the company reduced his CIBIL score due to which credit card approval and other services for which he had applied were denied by a bank.

It was also alleged that CIBIL did not update his data resulting in lower credit score, which amounted to abuse of dominant position.

To assess the complaint, the regulator considered market for the provision of services by credit information companies in India, as the relevant one.

In an order, the fair trade regulator said that ‘prima-facie’ CIBIL is in a dominant position, but did not find any violation of Section 4 of the Competition Act, which pertains to abuse of dominant market position.

Regarding allegation of not updating data, the watchdog said CIBIL had already informed Reddy that it was statutorily barred from modifying the credit information without receiving confirmation from the bank.

The regulator also dismissed the allegation of the company relying on fake data, saying that CIBIL collects information from credit institutions and is only a repository of said information based on which it creates a score.

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