The Competition Commission of India (CCI) is reported to have zeroed in around 70 real estate developers around the country, including Unitech, Parsvnath Developers, and Omaxe for investigation against entering into one-sided agreements with buyers and for allegedly colluding with each other to arm-twist them.
In the wake of the Competition Commission of India (CCI) imposing a hefty penalty of Rs. 630 crore on DLF, the anti-monopoly regulator has been flooded with a host of real estate related consumer complaints which may not be in the ambit of CCI. CCI should draw a line that bifurcates between what falls in its domain and what is in the consumer protection ambit. However, in the absence of scientific economic analysis of the relevant market, both in product category and geographic category, the two legs of the relevant market, the sector is keeping its fingers crossed as there has been a clear anomaly in defining the relevant market by the CCI.
The Competition Commission of India has found cement manufacturers in violation of the provisions of the Competition Act, 2002 which deals with anticompetitive agreements including Cartels. The order was passed pursuant to investigation carried out by the Director General upon information filed by Builders Association of India.
The anti-monopoly regulator Competition Commission of India (CCI) has dismissed the plea of two individuals against the realty company Unitech alleging that Unitech failed to fulfill its obligation by not handing over the possession on time and therefore violated section 4 of the Competition Act (2002) by abusing its dominant position.
The much awaited verdict of the Competition Commission of India (CCI) on real estate developers’ complaint against cartelisation among cement companies is expected next week.
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 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.
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.
Backed by the Competition Commission of India (CCI) penalty of Rs 630 crore on DLF, for “unfair trade practices” and “abuse of market dominance”, the Belaire Owners’ Association has suddenly become self-styled crusaders against developers.