Fair trade regulator
Competition Commission of India (CCI) recently sought more time from the
Competition Appellate Tribunal (COMPAT) to complete draft modifications in the
sale agreement between realty major DLF Ltd & flat owners of two of its housing projects at
Gurgaon -- DLF Park Palace and The Belaire.
Accepting the
request, a COMPAT bench -headed by Chairman Justice Mr. V. S .Sirpurkar -
adjourned the matter to November 21, 2012.
On July 18, 201,
COMPAT had directed the CCI to complete the process of modifying draft sale
agreement by the end of September, 2012 by giving "top priority to this
matter". The tribunal had also asked DLF Ltd to file one draft agreement
before the commission, while fixing the hearing for today.
The buyers'
association had filed their draft before the CCI as per tribunal's order.
The COMPAT was
hearing a petition filed by DLF Ltdvagainst the CCI order imposing Rs. 630
crore penalty on the company.
On August 12, 2011,
the Competition Commission of India (CCI) had imposed a penalty of Rs 630 crore
on DLF after finding the realty major guilty of abuse of the dominant market
position.
The orders were
passed following inquiries into complaints filed by the flat buyer
associations' of two separate DLF Ltd projects in Gurgaon, DLF Park Palace
& The Belaire, alleging delays in the project and increase in the number of
floors than planned earlier, among other things.
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