DLF welcomes COMPAT stay over CCI penalty
Realty major DLF has welcomed stay order by the Competition Appellate Tribunal (COMPAT) on the Rs 630-crore penalty imposed on it by the Competition Commission of India (CCI).
Realty major DLF has welcomed stay order by the Competition Appellate Tribunal (COMPAT) on the Rs 630-crore penalty imposed on it by the Competition Commission of India (CCI).
The Competition Appellate Tribunal (COMPAT) will today, November 9, hear…
After CREDAI now real estate developers body NAREDCO has approached the CCI seeking intervention against the alleged cement cartelisation hitting real estate developers.
When the CCI alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers of two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order.
As the realty major DLF moves the Compat to challenge the CCI penalty of Rs.630 crore, the real estate sector will soon get an answer as to whether their business falls under the service sector.
Realty major DLF has filed a petition with the COMPAT against the August 16 order of the CCI that imposed a fine of Rs.630 crore on the company for “abuse of dominant market position”.
The apex body for realty sector, CREDAI, has approached Competition Commission of India (CCI) seeking enquiry against artificial shortage of cement and exorbitant price hike by leading manufacturers.
The Competition Commission of India (CCI) penalty of Rs.630 crore on DLF has raked up the old debate in the sector as to whether the business falls under the service sector.
DLF is planning to move the Competition Appellate Tribunal by early next week, to appeal against the Competition Commission of India’s (CCI) order imposing Rs.630-crore penalty on the firm.
The competition watchdog Competition Commission of India (CCI) on Tuesday, August 30, found realty developer DLF guilty of abusing its dominance at one more project.