Tuesday, February 15, 2011

CCI Cracksdown on DLF

Rejecting the plea of realty major DLF Ltd, competition appellate body COMPAT has allowed watchdog Competition Commission of India (CCI) to continue with its enquiry against the company, which is under the scanner for allegedly misusing its dominant market position.

DLF had moved the Competition Appellate Tribunal (COMPAT) against Competition Commission of India (CCI) for initiating a probe without hearing the accused.

"COMPAT has dismissed DLF's appeal that sought stay on the CCI enquiry against it. They had appealed under section 33 of the Competition Act saying that no enquiry can be initiated unless reasons are recorded to arrive at an 'opinion' that a 'prima-facie case' exists," an official said.

The investigations against the realtor is already complete, with the Director General having found DLF violating, besides others, Section 4(2)(a) of the Competition Act.

No comments:

Post a Comment