Companies

DLF moves apex court against Compat’s Rs 630 cr penalty order 

Our Bureau New Delhi | Updated on July 11, 2014 Published on July 11, 2014

Realty major DLF has moved the Supreme Court against the Competition Appellate Tribunal's (Compat) May order which had upheld the Competition Commission of India (CCI) ruling imposing Rs 630 crore penalty on the firm for unfair business practices.

 

In 2011, the CCI had found DLF violating fair trade norms and imposed the said penalty on a complaint filed by the owners’ association of a DLF project, the Belaire Owners’ Association, in Gurgaon. The association had alleged that DLF imposed highly arbitrary, unfair and unreasonable conditions on allottees of apartments, which had serious adverse effects and ramifications on the rights of the buyers.

 

Dismissing DLF's plea against the fine imposed by the Competition Commission of India (CCI), the tribunal had given the company 60 days to pay the penalty or approach the Supreme Court. DLF had then said that it would move the Supreme Court on the matter.

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Published on July 11, 2014
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