Appellate body allows CCI to continue DLF probe
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RajaRC
Jan 20, 2011, 12:48:11 AM1/20/11
to Web News Faridabad
Appellate body allows CCI to continue DLF probe
Joe C Mathew / New Delhi January 20, 2011, 1:24 IST
http://www.business-standard.com/india/news/appellate-body-allows-cci-to-continue-dlf-probe/422374/
The Competition Appellate Tribunal (Compat) today refused to stay the
proceedings of the Competition Commission of India (CCI) against real
estate major DLF and permitted the competition watchdog to go ahead
with its inquiry.
Compat will hear the case on February 10.
DLF had approached Compat against the CCI probe into the complaints
raised by some of its customers over alleged “abuse of dominant
position” by putting “discriminatory and abusive clauses” in the
apartment agreements provided to the allottees of two of its high-
profile projects in Gurgaon, Haryana.
Early this month, the Delhi High Court also refused to grant a stay on
the CCI investigations against DLF.
The petitions before CCI, filed by associations formed by some of the
customers of premium residential projects like Park Place and Belaire,
complain that DLF failed to deliver the residential projects on time
and put “discriminatory and abusive clauses” in the apartment
agreements provided to the allottees. It also says the builder is
abusing its dominant position in the market.
The two projects are expected to have a total of 2,200 flats, priced
between Rs 1.5 crore and Rs 3 crore each, making the total worth of
the apartments in the range of Rs 4,500-5,000 crore.
The projects, which started in August 2006, were expected to be
completed in three years, but the developer extended the deadline to
April 2011.
The director general (investigations) of CCI, who gave his findings to
the commission recently, is known to have endorsed the charges made by
the allottees against DLF.
GSK sues DLF in separate case
In an unrelated development, GlaxoSmithKline Consumer Healthcare Ltd
(GSKCH), the FMCG company that owns leading brands such as Horlicks
and Boost, has filed a case against DLF over charges of violations of
its agreement in one of the commercial projects in Gurgaon.
GSKCH alleges that DLF had violated its agreement with the company
over the purchase of a property in its City Centre project, which was
later renamed Horizon Centre. GSKCH claims that by relaunching the
project, DLF had violated the agreement it had with DLF Ltd and DLF
Utilities Ltd for Tower 3 in the City Centre together with parking and
proportionate share in the common areas in the project site.
Real estate sources associated with the marketing of Horizon Centre
said the commercial space that were up for sale now were not related
to the one specified by GSKCH.
Joe C Mathew / New Delhi January 20, 2011, 1:24 IST
http://www.business-standard.com/india/news/appellate-body-allows-cci-to-continue-dlf-probe/422374/
The Competition Appellate Tribunal (Compat) today refused to stay the
proceedings of the Competition Commission of India (CCI) against real
estate major DLF and permitted the competition watchdog to go ahead
with its inquiry.
Compat will hear the case on February 10.
DLF had approached Compat against the CCI probe into the complaints
raised by some of its customers over alleged “abuse of dominant
position” by putting “discriminatory and abusive clauses” in the
apartment agreements provided to the allottees of two of its high-
profile projects in Gurgaon, Haryana.
Early this month, the Delhi High Court also refused to grant a stay on
the CCI investigations against DLF.
The petitions before CCI, filed by associations formed by some of the
customers of premium residential projects like Park Place and Belaire,
complain that DLF failed to deliver the residential projects on time
and put “discriminatory and abusive clauses” in the apartment
agreements provided to the allottees. It also says the builder is
abusing its dominant position in the market.
The two projects are expected to have a total of 2,200 flats, priced
between Rs 1.5 crore and Rs 3 crore each, making the total worth of
the apartments in the range of Rs 4,500-5,000 crore.
The projects, which started in August 2006, were expected to be
completed in three years, but the developer extended the deadline to
April 2011.
The director general (investigations) of CCI, who gave his findings to
the commission recently, is known to have endorsed the charges made by
the allottees against DLF.
GSK sues DLF in separate case
In an unrelated development, GlaxoSmithKline Consumer Healthcare Ltd
(GSKCH), the FMCG company that owns leading brands such as Horlicks
and Boost, has filed a case against DLF over charges of violations of
its agreement in one of the commercial projects in Gurgaon.
GSKCH alleges that DLF had violated its agreement with the company
over the purchase of a property in its City Centre project, which was
later renamed Horizon Centre. GSKCH claims that by relaunching the
project, DLF had violated the agreement it had with DLF Ltd and DLF
Utilities Ltd for Tower 3 in the City Centre together with parking and
proportionate share in the common areas in the project site.
Real estate sources associated with the marketing of Horizon Centre
said the commercial space that were up for sale now were not related
to the one specified by GSKCH.
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