India’s fair trade watchdog, the Competition Commission of India, has dismissed five complaints against the Jaypee Group companies for alleged abuse of their dominant position in the real estate market of Noida and Greater Noida.
The Commission, in a majority verdict, said in its “considered opinion JAL/ JIL does not enjoy a position of dominance in the market for provision of services for the development and sale of residential apartments in Noida and Greater Noida in accordance with the provisions of section 4 of the Act.”
“Since JAL/ JIL is not in a dominant position in the relevant market, the question of examining the alleged abusive conduct does not arise,” the order added.
Two CCI members ordered a Rs.666 crore fine on Jaypee associates, but were overruled by the chairman and other members.
The commission, however, also asked the company and other players in the real estate sector to take appropriate voluntary measures to address the concerns of the flat buyers.
The informants in the cases had alleged that Jaiprakash Associates, along with its group company Jaypee Infratech, abused its dominant position by imposing highly arbitrary, unfair and unreasonable conditions in the agreements for allotment of residential apartments which blatantly violated the principles of free and fair competition.
The two dissenting members disagreed with the majority verdict and found the Jaypee Group “clearly dominant in the relevant market”.
Full content: The Economic Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI