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CCI to probe Unfair Practices in Realty Sector
Highlights
The Competition Commission of India (CCI) is looking into various aspects of alleged unfair business practices in realty sector. As on 11.02.2015, Competition Commission of India (CCI) has dealt with 132 cases of alleged anti-competitive practices/abuse of dominance in realty sector. Out of this, 93 cases have been closed at prima-facie stage and 3 cases have been disposed of after considering the report of Director General (DG), CCI. In 13 cases, the Commission has passed “cease and desist orders” and in one case has imposed penalty of Rs.630 crore on DLF Limited in addition to passing a “cease and desist order”.
The Competition Commission of India (CCI) is looking into various aspects of alleged unfair business practices in realty sector. As on 11.02.2015, Competition Commission of India (CCI) has dealt with 132 cases of alleged anti-competitive practices/abuse of dominance in realty sector. Out of this, 93 cases have been closed at prima-facie stage and 3 cases have been disposed of after considering the report of Director General (DG), CCI. In 13 cases, the Commission has passed “cease and desist orders” and in one case has imposed penalty of Rs.630 crore on DLF Limited in addition to passing a “cease and desist order”.
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Under the provisions of the Competition Act, 2002, either on its own motion or on receipt of any information, CCI looks into cases of alleged anti-competitive practices/abuse of dominance including in realty sector.
This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today.
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