CCI rules out abuse of dominant position by Omaxe

Tags: CCI, Omaxe, News
Fair trade regulator CCI has rejected a complaint that alleged realty firm Omaxe of indulging in anti-competitive practices with respect to development of residential plots in Sonepat district of Haryana.

The complaint by two individuals had alleged that Omaxe had abused its dominant market position by imposing one-sided and anti-competitive agreements on buyers of plots, among others.

Citing that Omaxe was not dominant in the relevant market, the Competition Commission of India (CCI) in an order dated January 21 said, "No prima facie case is made out for directing Director General to carry out investigation into the matter".

The complainants, who had registered for plots with Omaxe, had alleged the firm made a representation to the public at large regarding a real estate project without specifying the details and identity of the property.

Among others, it was also alleged that under the agreement, there was no exit route to buyers of plots in case of violation of terms on part of Omaxe and the company would not have to face any consequences for same.

The CCI said the presence of other real estate players in Haryana made it a competitive market.

"There is no information on record and available in the public domain which shows a position of strength of opposite party (Omaxe) enabling it to operate independent of competitive forces prevailing in the relevant market," the fair trade regulator said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Those willfully defaulting on loans should be blacklisted by Sebi

    As reported by this newspaper’s Monday edition, the Securities and Exchange Board of India (Sebi) has found merit in the Reserve Bank of India’s s

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Kickstarting technological innovation

One of the key dimensions of global competitiveness is the ...

Kuruvilla Pandikattu SJ

Developing moral, spiritual capacity

Writing in The Huffington Post, Noam Chomsky, professor emeritus, MIT ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture