DLF against the CCI order
The Realty Giant DLF is likely to approach the Compat (Competition appellate Tribunal) to challenge the order by Competition Commission of India (CCI) to pay Rs 630 crores penalty for the abuse of the dominant market position. This challenge on the order is on the basis of Competition Commission of India’s classification of DLF as a “dominant player” in today’s prevailing market.
DLF said that it would examine all the options including an appeal before Compat (Competition appellate Tribunal) to contest the penalty only after the CCI order. Sources say that DLF is likely to challenge this order in the coming week. Where in DLF will be questioning as to, “Why CCI did not serve a notice well in advance passing the order”. Also was a case with another recent order passed against NSE (National Stock Exchange).
DLF, the market leader based on the third party analysis of the country-wide turnover of the companies prevailing in the Gurgaon real estate. “There is enough competition in the Gurgaon market in each category of the residential market also there is no entry ban for any developer and there is no cartelization”, one of the sources said.
DLF is in an argument that they were assigned only 6 percent of the total land development licenses issued by the government in the Gurgaon region in the midst of the year 2002 to 2009.
CCI, CCI order, Compat, Competition appellate Tribunal, Competition Commission of India, DLF, Dominant player, Gurgaon, Gurgaon market, Gurgaon region, Land development, Land development licenses, National Stock Exchange, New Delhi, NSE, Residential market
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