DLF Real Estate Firm Alleged of Acting Anti-Competitive

DLF Real estate firm is alleged of resorting to Anti-Competitive practices. The Competition Commission of India (CCI) rose in to action and has started their probe against DLF.

Besides DLF, other five real estate firms are charged of resorting to anti-competitive practices. Tulip Infratech, JP Associates, Omaxe and Larsen & Toubro are they.

The news was out as Corporate Affairs Minister Sachin Pilot informed the RS- Rajya Sabha. He said that the CCI has already begun its investigation against these alleged real estate developers.
15 such Anti-Competitive cases are charged against DLF. Mr. DLF has already been fined Rs.630 Cr. Besides the real estate developers are facing the CCI’s “Cease & Desist” order as well.

Competition Appellate Tribunal (COMPAT) finally heard DLF Ltd.’s plea on Sunday. The case has been remaining unresolved for a quite longer time. The Cease & Desist order was passed on August 12, 2011.

The penalty of Rs.630 Cr was levied on DLF only after finding them guilty of violating Anti-Competitive practices. The probe proved that the real estate builders have crossed the codes of abuse of the dominance in the market position.

DLF flat buyers’ associations had filed charges against the builders. The CCI probe convinced them that the builders are guilty of going against the codes of abuse of the dominance in the market position. This first form of complaint came from Gurgaon.

Later on complaints against DLF was raised from Chennai as well. Gurgaon DLF flat buyers’ associations complained that the real estate major had given them wrong information regarding the number of floors. They also pointed out that they received the project very late.

The Owners and Occupants Welfare Association of Jasola DLF Towers filed a similar complaint. The association also alleged the builders of resorting to anti-competitive practices.

The real estate major has submitted its plea in front of COMPAT who will hear the case further on January 24, 2013. The real estate firm is granted one month’s time to submit its reply.

Post a Comment

Your email is never shared. Required fields are marked *

*
*