CCI charged Rs. 630 crore on DLF for irregularities

The Competition Commission of India (CCI) established in 2003 under the competition Act 2002 is to promote economic efficiency using competition as one of the means of assisting the creation of market responsive to consumer preferences has charged fine at the rate of 7percent of the average of the turnover for the last three years on real estate giant DLF Ltd. The amount of Rs.630 crore has been imposed for the irregularities in business, bias business deeds and inequitable conditions made before the home buyers in Gurgaon.
CCI has ordered to DLF Ltd to stop from the bias business and irregularities in business deals and also duping to home buyers by imposing unfair conditions in its agreement, as sources said.
According to CCI “The abuse of dominant position in this case is in respect of the basic necessity of housing.”
This is the highest-ever fine imposed on DLF Ltd by CCI. Earlier, the Commission had asked National Stock Exchange to pay a penalty of Rs. 55.5 crore.