SC gives DLF a breather over Rs 630-cr penalty imposed by CCI
Last week, realty bigwig DLF got a Supreme Court breather over a Rs 630-crore penalty which the Competition Commission of India (CCI) had imposed on the company for allegedly abusing its leading realty-market position, with regard to a residential society in Gurgaon.
During the course of Friday proceedings at the Supreme Court, a bench headed by Justice Ranjana Desai issued notices to the CCI, the Haryana government, the Haryana Urban Development Authority (HUDA) and the residents’ association that complained against DLF. The notices seek reply on DLF’s appeal to have the Rs 630-crore penalty overturned.
The Supreme Court bench also barred the CCI from taking any “coercive steps” till the next date of hearing — August 7.
Meanwhile, in its appeal to have the penalty nullified, DLF had challenged the May-issued order of the Competition Appellate Tribunal which confirmed the penalty of Rs 630-crore imposed by the CCI. In its appeal, DLF said that the Tribunal had failed to give due consideration to the market share of state agencies, like HUDA, while determining DLF’s alleged dominance or realty market.
Furthermore, senior counsel Harish Salve also argued, on behalf of DLF, that the real estate firm was neither given any ‘show cause’ notice nor a chance of hearing before imposition of penalty.
Source – The Financial Express
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