Compat rejects DLF plea; upholds Rs 630 cr CCI penalty

Tags: DLF, News
In a setback to DLF, the Competition Appellate Tribunal today upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.

In August 2011, the Competition Commission of India had found DLF violating fair trade norms and imposed a fine of Rs 630 crore on it following a complaint by a Belaire Owners' Association in Gurgaon.

During the hearing today, the tribunal upheld CCI decision to impose Rs 630 crore fine on DLF. It had challenged the fair trade watchdog's order at the tribunal, Compat.

In its order, CCI had asked DLF to cease and desist from formulating and imposing unfair conditions in its agreements with buyers in Gurgaon. The realty firm was also directed to suitably modify unfair conditions imposed on its buyers.

It was in May 2010 that the buyer's association had complained against DLF.

The association had alleged that DLF "imposed highly arbitrary, unfair and unreasonable conditions on the apartment allottees of the Housing Complex The Belaire, which has serious adverse effects and ramifications on the rights of the allottees".

EDITORIAL OF THE DAY

  • Saffronites need to build their own edifices and narratives

    The news that the BJP-led NDA government, no admirers of India’s first prime minister, want to give a ‘contemporary’ look to the capital’s mos

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Sachin Shridhar

Crouching tiger, hidden dragon

The Chinese are consummate gamblers. If you visit a casino ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture