CCI rejects charges against BPTP, its subsidiary
Jul 04 2014 , New Delhi
A complaint by an individual had alleged BPTP Ltd and Countrywide Promoters of imposing a unfair terms and conditions in the 'Builder Buyer Agreement'.
In an order dated July 7, the Competition Commission of India (CCI) said: "No prima facie case of contravention of the provisions of...The (Competition) Act is made out against the opposite parties.
"It is a fit case for closure... And the same is hereby closed," it added.
The watchdog observed that there were several other real estate developers such as DLF, Ramprastha Group, Anantraj Group, Earth Infrastructure Group which are operating in Gurgaon.
As per CCI order, the 'land bank' of BPTP in Gurgaon is around 778 acres while land bank of other players "is also enormous".
"Accordingly, it seems unlikely that with such land bank, the opposite parties had huge size or resources or any other advantage that could have capacitated them to work independently of their competitors," CCI said.
The case relates to BPTP's project -- 'Astaire Garden' in Sector 70A, Gurgaon -- wherein the complainant had booked a residential unit.