CCI dismisses charges against Universal Buildwell
Competition Commission of India (CCI) has declined the charges of abuse of dominant position against the real estate company Universal Buildwell.
It was declared by CCI that there is no existence of a prima facie case for creating an investigation as Universal Buildwell did not appear to be dominant in the market of development of residential space or flats in the region of Faridabad.
The complaint against Universal Buildwell said that the company had abused its dominant position by imposing unfair and discriminatory conditions in the buyers agreement while the flats were booked.
Delay of construction work is one of the reasons for the complaints. It is said the money was retained by the company illegaly.
There was termination letter which was issued to one of the members in respect of the flat. This took place according to the complainant amounted to unfair trade practices and deficiency in services on the part of the company.
However, CCI has noted in its order, which is dated on April 13, said that the informant has only alleged that the opposite party (Universal Buildwell) abused its dominant position.
Universal Buildwell was not the only developer offering residential space/flats in Faridabad, this was understood clearly by the CCI from the information available on public domain.
It is said that the presence of other real estate developers offering residential flats also indicates that the informant was not dependent upon the opposite party for provisioning of residential flat.
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