A PYMNTS Company

India: Court orders remainder of fine paid after 4 years

By  |  January 19, 2015

The Supreme Court in New Delhi accepted the first payment of $12 million for the first installment from Delhi Land & Finance (DLF). The Supreme Court fined DLF $102 million in 2011, after the court found the company guilty of abusing its dominant position in the real estate market in buyers agreements three separate projects. DLF paid $24 million upfront and the court ordered it to pay $12 million in monthly installments for the remaining $78 million. On November 28, 2014, the court ordered DLF to start making its monthly payments since no payments were made after 2011.

Full Content: Live Mint

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.