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India: DLF found guilty in antitrust probe

By  |  May 14, 2015

In a fresh order against DLF, the Competition Commission of India has found the realty giant guilty of indulging in “unfair and abusive” business practices in sale of apartments in a Gurgaon housing project.

CCI has asked DLF Gurgaon Home Developers and its group companies to “cease and desist” from such unfair trade practices, but did not impose any fresh monetary penalty as Rs.630 crore fine has already been slapped on DLF for similar violation during the same period in a separate case.

“… the Commission directs the Opposite Party and its group companies operating in the relevant market to cease and desist from indulging in the conduct which is found to be unfair and abusive,” the fair trade regulator said in its order.

The direction follows complaints filed with CCI against DLF Gurgaon Home Developers, wherein it was alleged that the company had lured home buyers to book apartments at “very attractive” rates in DLF New Town Heights project under a pre-launch scheme.

 

Full content: NDTV Profit

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