US financial research firm Morpheus Research claimed MakeMyTrip "openly defies" Indian regulators like CCI, cheats customers, and falsely inflates profits via accounting tricks. Revealing that it has shorted MakeMyTrip shares, Morpheus claimed the startup prohibits hotels from selling rooms at lower prices elsewhere. It said MakeMyTrip does this despite CCI's 2022 order fining it $26.1 million.