- The Competition Appellate Tribunal upheld the Rs. 630 crore penalty imposed on DLF by the Competition Commission of India for violating fair trade regulations and using its dominant position to exploit consumers.
- Belaire Owners’ Association in its complaint had alleged that DLF’s highly unfair, unreasonable and arbitrary conditions imposed on allottees of apartments in the Belaire in Gurgaon had caused serious violations of the rights of the buyers.
- Refusing a soft attitude for its exploitation, the COMPAT also said that the fine is equivalent to 7% of DLF’s turnover.
- DLF will move the Supreme Court in this regard.
- Read at: http://www.thehindu.com/todays-paper/tp-business/compat-upholds-rs-630-cr-penalty-on-dlf/article6026925.ece
- Competition Commission of India (CCI)