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.
Track2Realty Exclusive: When the Competition Commission of India (CCI) alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers at two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order and the enormous penalty of Rs 630 crore levied on the real estate major. However, within a year the real estate sector itself approached the CCI through its associations against the cement cartel, and got them nailed as well. Consumers too are approaching repeatedly the anti-monopoly body. Track2Realty wonders whether the CCI has become the new regulator in the sector by default.
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 competition watchdog Competition Commission of India (CCI) on Tuesday, August 30, found realty developer DLF guilty of abusing its dominance at one more project.
Track2Realty-Agencies: Competition Commission of India (CCI) is working on a model framework for commercial agreements between real estate developer and the property buyer, which it expects to serve as a benchmark for the industry.
Track2Realty: Real estate sentiment remains fragile, most notably in the occupier markets in Europe, as the global economy continues to face strong and persistent headwinds. The recession in Europe, coupled with only modest growth in the US and a slowdown in China has resulted in global economic prospects being no more certain than in the previous quarter. These are the findings of These are the findings of the latest RICS Global Commercial Property Survey.
The Competition Appellate Tribunal (Compat) has said a new Bench will decide the DLF case wherein the realty major has challenged CCI’s Rs 630 crore penalty on it and the final hearing has been adjourned to July 18.
The Competition Appellate Tribunal (Compat) today stayed the Rs.630 crore penalty imposed by fair trade watchdog Competition Commission of India (CCI) on realty major DLF over alleged abuse of dominant market position.
The Competition Appellate Tribunal (COMPAT) will today, November 9, hear…
It seems the Competition Commission of India (CCI) ruling on the DLF to pay penalty has opened the can of worms.