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India: DLF hits back at CCI, asks why no penalty on other realtors

By  |  May 17, 2015
India: DLF hits back at CCI, asks why no penalty on other realtors

After being found guilty for unfair trade practices by the Competition Commission of India (CCI), India’s largest real estate firm DLF on Thursday said it is “very surprising” that no penalty has been imposed on other companies selling flats in the same market, in the same price range and with the same product line.

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    CCI had found DLF guilty of indulging in “unfair and abusive” business practices while selling apartments in Gurgaon’s DLF New Town Heights project in a fresh order on Thursday.

    The competition watchdog has asked DLF Gurgaon Home Developers Private Limited and its group companies to “cease and desist” from such unfair practices. However, CCI did not impose any fresh monetary penalty as Rs 630 crore fine has already been slapped on DLF for similar violation in a separate case.

    In a statement filed with BSE on Friday, DLF said it is still studying the order and will take necessary steps as advises by the legal counsels. “It is, however, very surprising that in Gurgaon there are tens of companies which offer flats in the same range of Rs 45-50 lakh. It is also well-known that that tens of thousands of flats are offered in the area of Gurgaon within the same price range, with same amenities and in the same product line. We have also noticed that no penalty has been imposed,” DLF said in the BSE filing.

     

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